“Financial aid sought by Spain from its euro-area partners to shore up banks must be restricted to viable lenders, the German government said.
Spain will face conditions in drawing as much as 100 billion euros ($123 billion) in aid for its banks, “of which the most important is that they will be very carefully scrutinized to see which ones can survive,” German Deputy Finance Minister Thomas Steffen told state representatives in the upper house of parliament in Berlin today. “Banks that aren’t viable must be treated differently to those that are.”
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