€100bn 'enough for Spanish banks'

Spain’s ailing banks are unlikely to need all of the €100bn which was made available by the country’s euro partners, Spanish economy minister Luis de Guindos said.

In a further indication that Spain’s economic problems are not as acute as some in the markets have been fearing, Mr de Guindos also insisted that no additional austerity measures will be needed to meet the Spanish government’s deficit-reduction target.