Spain to Use Around 60 Bln Euros to Recapitalize Banking System

Spain to Use Around 60 Bln Euros to Recapitalize Banking System


Spain will use up to around 60 billion euros of a rescue package aimed at helping recapitalize its fragile banking system, Economy Minister Guindos said according reports
Guindos also said he expected the ECB to start buying Spanish debt to ease the country's financing needs
He also added that with income tax receipts well in line with the projections, he did not expect a long recession that would prevent Spain from missing its fiscal targets, .
He also said Spain could make stronger fiscal commitments in return for ECB help.


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