banking sector restructuring

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Forcing mergers is the real aim of Spain’s financial reform

By Juan Pedro Marín Arrese, in Madrid | The outline of the financial reform, announced yesterday on Thursday by the Spanish minister of Economy, fails to provide the clue of what the government is aiming at. To begin with, the picture we were presented was one of sheer disarray: big holes in the balance sheets covered with meagre provisions and not a single tender word for the financial system. One…