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Spain to say how much its banks need
Friday, September 21 14:27:57
Spain may be able to provide details of the capital needs of its banks next week, the EU Competition Commissioner Joaquin Almunia said today.
Asked to comment on discussions between the European Commission and Spain about support for its banks, Almunia told a briefing:
"We are working very intensely with the Spanish authorities... for setting up and the implementation of the memorandum of understanding on the banking sector."
"When we come to a situation where we have got some news about capital needs ... I think that next week may be that time," said Almunia, who as competition chief will help ensure restructuring meets EU rules. (C ) Reuters
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