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Spain is not planning to close down any of its ailing lenders, Economy Minister Luis de Guindos said, contradicting the Bank of Spain governor who said earlier on Tuesday that non-viable entities should be wound down.
Four banks currently nationalised - Bankia, CatalunyaCaixa, NovaGalicia and Banco de Valencia - could face the prospect of being wound down if the European Commission concludes that the cost of their recapitalisation is higher than the cost of an orderly resolution.
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