Spain may not need further bank assistance programme - EU's Rehn
PARIS (Reuters) - Spain has a good chance of concluding the financial assistance programme for its banking sector without needing a successor programme, Olli Rehn, the European commissioner for economic and monetary affairs said on Tuesday on a visit to Paris.
Spain took 41 billion euros ($55.45 billion) out of a possible 100 billion euros from the European Commission and the European Central Bank last year to help its weakest lenders, hit hard by a five-year-old property crash.
The European Authorities said in a review on Monday financial reforms were on track. Spain has to decide whether to extend the programme beyond the end of this year.
Rehn also said that the Commission was looking at other possible arrangements, without providing details, and said he would not rule out other options.
(Reporting by Ingrid Melander and Eva Taylor in Paris, Writing by Sarah White in Madrid)
