Spain Minister Push EU For Bank Action Plan
He spoke a day after Banco Santander S.A. chief Emilo Botin estimated troubled Spain's banks would need â¿¬40 billion to shore up their defenses to cover toxic loans and mortgages.
Montoro avoided setting an overall figure but said the government would have a clearer idea once two international auditing firms contracted to study the health of Spain's banks report at the end of June. Some estimates have put the cost of a complete bailout for the Spanish banking sector at some â¿¬100 billion.
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