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Spain 'May not need further bank assistance' : EU

Source: Reuters - Wed 2th Oct 2013
Spain 'May not need further bank assistance' : EU

Spain has a good chance of concluding the financial assistance program for its banking sector without needing a successor program, Olli Rehn, the European commissioner for economic and monetary affairs said on Tuesday on a visit to Paris.

Spain took €41 billion out of a possible €100 billion from the European Commission and the ECB last year to help its weakest lenders, hit hard by a five-year-old property crash.

The European Authorities said in a review on Monday financial reforms were on track. Spain has to decide whether to extend the program beyond the end of this year.