Spain’s banks ‘need extra $76.3 billion’

Spanish banks now needs 59.3 billion euros ($76.3bn) in capital just to ride out a their economic downturn. Independent reports have said, removing a major obstacle in the way of an international bailout for Madrid. The stress tests' were released by the Bank of Spain on Friday, they said they will help Spain decide how much it will use of the €100 billion loan facility offered by the 16 euro countries.
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