Spain clears bank reforms to revive ailing economy

3 February 2012, 5:28 am

ALAN CLENDENNING Associated Press MADRID Spain's new conservative government on Friday imposed sweeping new rules it hopes will flush out bad property loans and foreclosed property from the financial system, restore confidence in banks and set the ailing economy back on track toward recovery. The regulations approved by the Cabinet require banks to set aside an estimated €50 billion ($65 billion ...... Read More »

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