Spain urged to come clean on bank bailout plan - seattlepi.com
The European Union
urged Spain on Thursday to come clean on how it plans to finance the
overhaul of its banking sector, warning that uncertainty over this has
contributed the recent market turmoil and the country's soaring
borrowing costs.
A European Commission spokesman, Amadeu Altafaj, told Spanish National Radio
that the conservative government in Madrid needed to spell out quickly
how it plans to finance the recapitalization of troubled lender Bankia
SA and whether there are other banks burdened by toxic real estate
assets that might need assistance.
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