Investing
Spain's Bank Borrowing Hits 118.9 Billion Euros In December
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In a sign of distress within the already weak Spanish bank sector, its average borrowing from the ECB was 118.9 billion euros. The Spanish government has indicated it may have to raise 80 billion to recapitalize its financial firms.
Bloomberg reports:
Borrowings reached 118.9 billion euros ($152 billion) in December from 98 billion euros in November, the Bank of Spain said on its website today.
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