Portugal, Greece Have Money If Banks Need, Regling Says

Portugal and Greece have money set aside to recapitalize their banks if the European Central Bank uncovers problems during its asset-quality review and stress test, European Stability Mechanism chief Klaus Regling said.

Portugal has market access and a buffer to cover its financing needs for the next 12 months, Regling said in an interview in London. As a result, “there’s no need for them for any emergency financing,” he said.