Moving away from a "bad bank" plan that was floated a few weeks ago, Spain is going to require...

|By:, SA News Editor

Moving away from a "bad bank" plan that was floated a few weeks ago, Spain is going to require its banks set aside their own money - €50B (4% of GDP) - as provision against bad property assets. Economy minister (and former Lehmanite) Luis de Guindos says the issue is "manageable," nowhere near the magnitude of Irish lenders, whose difficulties sunk the national budget.