Bank of Spain Governor Ordonez Denounces Critics as He Quits
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Bank of Spain Governor Miguel Angel Fernandez Ordonez denounced a “campaign” against him as he quit before his term expired and sparred with the government over the costs of a bank rescue and the feasibility of budget targets.
The mounting tension between the nation’s top banking regulator and elected officials helped send borrowing costs to a euro-era record amid speculation a bailout was needed.