Spain Has Acted ‘Bravely’ With Savings Banks, Rehn Tells Bizness

The Spanish government has acted “bravely” in moving to reform the country’s savings banks, European Union Economic and Monetary Affairs Commissioner Olli Rehn told Latvian newspaper Dienas Bizness in an interview.

“The Spanish government has worked very bravely and determinedly, especially with the reform of the savings banks,” the Riga-based newspaper quoted Rehn as saying. “Soon they will complete the first phase of the independent evaluation for all the bank recapitalization costs,” he said.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net