Spanish Banks Need to Be Re-Capitalized Quickly, Moscovici Says

Spanish banks need to be re-capitalized quickly, French Finance Minister Pierre Moscovici said.

“We have to move quickly on banking supervision and we have to move quickly on the direct recapitalization of Spanish banks,” Moscovici said today in Aix-en-Provence, France.

Moscovici also said that he expects the euro group of finance ministers to meet July 20 after meeting tomorrow.

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