💨 Abstract

In eastern Spain, damages to businesses due to floods could exceed 10 billion euros, with banks' loan exposure to the affected areas at around 20 billion euros. The Spanish government has earmarked 10.6 billion euros to aid flood victims. Spanish banks' loans to affected households and companies could reach 13 billion euros and 7 billion euros respectively.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖