The EU Warns Spain and Slovenia to Reign in Risk to Prevent a Banking Crisis

“The European Commission warned of “excessive” risks to the economic health of Slovenia and Spain, calling on both governments to take urgent action to stem the spread of the euro crisis.

Slovenian banks are likely to need fresh capital injections as over-indebted corporate borrowers struggle to pay back loans amid a double-dip recession, the Brussels-based commission said. It said Spain is encumbered by public and private debt….”

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