EC Sides With Spain, Proposes 'Banking Union'

EC Sides With Spain, Proposes 'Banking Union' Play

May 30 (Bloomberg) -- Bloomberg's Mike McKee reports that the European Commission sided with Spain in proposing that the euro’s permanent bailout fund inject cash to banks instead of channeling the money via national governments and that the use of the rescue fund to recapitalize banks “might be envisaged” and would “sever the link between banks and the sovereigns.” He speaks on Bloomberg Television's "Inside Track."

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