Spain bank reform guarantees solvency

 

Spain's overhaul of its banking system has reinforced the solvency of its financial system, making it able to withstand the most stressful of economic situations, government spokesman Jose Blanco said on Friday.

"We will continue to press ahead with the reform of our financial system which will continue to guarantee the solvency of our country," said Blanco, who is also Public Works Minister, at the government's weekly press conference.

Spain has forced its savings banks to take private capital on board or face nationalisation in order to boost capital ratios to tough new minimum levels.