EC staff to ‘step up’ work on Spanish banks assessment

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The Spanish government today (June 25) published a letter sent by economy minister, Luis de Guindos, to the president of the Eurogroup, Jean-Claude Juncker, in which financial assistance is formally requested to recapitalise the nation's banks.

Following the request, Olli Rehn, the vice-president of the European Commission (EC), issued a statement welcoming the Spanish authorities' move and urging EC staff to "step up" their efforts to provide a clear assessment of the sector and its needs.

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