Spain tries to restore confidence in banks
The Associated Press
MADRID (AP) — Spain has ordered independent audits of its banks' debt loads and will force them to set aside another €30 billion ($40 billion) to cover potential losses on real estate.Friday's moves are the government's latest attempt to restore confidence in a sector that's at the heart of the Spanish economy's slump and fears the country might need a bailout like Greece, Ireland and Portugal.
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