Sie werden all gerettet
Frankfurt EUR 9.08 +0.3 (+3.4%)
17:21:10 21-01-2011 16:30 UPDATE 5-Spain plans partial nationalisation of savings banks
By Manuel Maria Ruiz and Sonya Dowsett
MADRID, Jan 21 (Reuters) - Spain plans a partial state takeover of its weakest savings banks as it seeks to reassure investors a rescue will not weigh on its deficit.
A source familiar with the matter told Reuters on Friday the government would force debt-laden regional savings banks to become conventional banks and seek stock market listings to persuade skittish investors that they are good investments.
The state-backed bank restructuring fund (FROB) would then take stakes in the banks -- known as cajas -- that fail to attract private investment, the source said.
Up to now the FROB has functioned as a lender of last resort to the cajas.
Deputy Prime Minister Alfredo Perez Rubalcaba told reporters a new savings bank plan was coming soon and could include new laws, implying a reform of the FROB.
High levels of bad property loans at the cajas are seen as a major risk for Spain, working to slash its budget deficit to stave off fears it will need an Ireland-style rescue from the European Union and International Monetary Fund..........usw