Spanish governor admits central bank’s failings

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The governor of the Bank of Spain, Luis Linde, on July 17 addressed the mistakes made by the central bank with regard to the supervision of the financial system.

Testifying before the Parliamentary Committee on Economic Affairs and Competitiveness, Linde said the topic was not one he wanted to "sidestep or avoid", despite being "well aware" the area was "delicate… where I risk being misinterpreted".

Linde said that during the real estate and financial bubble years that ended in 2008, there was a

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