Economy: ‘First signs of upturn in the eurozone’

Two hundred and seventy eight European banks will reimburse €137bn to the European Central Bank (ECB), the equivalent of one third of the €489bn borrowed from a line of credit made available in late 2011 by ECB President Mario Draghi.

The early repayment is evidence of the banks wish to demonstrate their financial health, and Spanish banks will be among the first to fulfill their obligations.