Spanish lenders in talks over 'bad bank' plan
Ciaran Giles - The Associated Press
MADRID (AP) — As their losses from mortgages grow, Spanish banks have begun discussions about creating a separate entity — a "bad bank" — to take on these assets and relieve pressure on the country's financial sector.The goal of the new organization would be to reduce the financial strain on banks and prevent the need for either a more costly government bailout or an international rescue along the lines of Greece, Portugal and Ireland.
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