EU's top economic aide praises plan for banks
Source: Agencies |
May 14, 2012, Monday
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Print Edition
Print Edition
THE European Union's top economic official said yesterday that Spain was taking decisive action to shore up its banking sector and that its overall reform efforts were essential to bolster confidence in the sector.
Spain on Friday offered high-interest loans to banks suffering the fallout of a property crash and ordered an independent audit of lending across the entire banking sector. Olli Rehn, EU's commissioner for economic and monetary affairs, praised the plan.
Spain on Friday offered high-interest loans to banks suffering the fallout of a property crash and ordered an independent audit of lending across the entire banking sector. Olli Rehn, EU's commissioner for economic and monetary affairs, praised the plan.
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