Spain May Make Banks Cut Property Asset Values, Expansion Says
By Angeline Benoit -
2011-12-28T06:49:55Z
Spanish Prime Minister Mariano Rajoy may instruct the country’s banks to cut the value of their real- estate assets by an average of 20 percent as part of a plan to make them declare potential losses and rebuild their credibility, Expansion reported, citing unidentified people with knowledge of the matter.
To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net
To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net
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