Wednesday, March 28, 2012


...oh, OK, if you say so...

Brussels (DPA) -- European Union officials denied on Wednesday that plans were afoot to use eurozone bailout funds to help Spain recapitalize its banks.
"The information we have seen in the press are completely unfounded, they are not true and they do not reflect the thoughts or the position of the European Commission," Amadeu Altafaj, spokesman of EU Economy Commissioner Olli Rehn, said Wednesday.
He was referring to widespread reports in the Spanish press, quoting unnamed EU sources, indicating that the Spanish government may tap into eurozone rescue funds to recapitalize its banking sector, which is reeling from the bursting of a real estate bubble.
Spanish banks' need for more capital would be "largely met"

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