Spain’s Sliding Reforms Add to Bank Cleanup Hurdles, EU Says
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Spain is backsliding on economic reforms, fueling risks for its banking system in the midst of an overhaul that faces “significant challenges,” the European Commission said.
“Progress in delivering of some key product and services market reforms has been slow,” the Brussels-based commission said today in its second review of Spain’s bank rescue program. “Persistent efforts are needed to compound the progress achieved to date” on the banking system and “to overcome the still significant challenges.”