Banking Spanish-Need 30 Billion Euros

MADRID Report - latest news about the economy, the Spanish bank restructuring is predicted to require funds amounting to 30 billion euros. Spanish Government will finance the plan with the Fund for the Restructuring of the Bank (FROB).

"It (the fund 30 billion euros) more than enough to meet the needs of all banks," said Spanish Economy Minister Elena Salgado as quoted from Reuters.

Elena explains, FROB can raise funds up to 99 billion euro.Dana was formed with the purpose of acting as standby fund to help institutional lenders.

"Based on data from Central Bank of Spain (BOS) funding requirements less than 90 billion restructuring euro.Tapi, I estimate the total requirement is less than a third (30 billion euros)," he said.

This week the world's stock price, exchange rate of euro against U.S. dollar (U.S.), and oil fell as investors worried over the public financing Spanyol.Investor-yack off assets that have a high risk.

MSCI world stock index yesterday fell 0.3 percent after rising to the highest position in sebulan.Indeks FTSEurofirst 300 fell 0.25 percent. While the exchange rate of euro against the U.S. dollar fell 0.4 percent to USD1, in 2245 and against the yen weakened 2 / 3 percent to 111.71 yen. Value of U.S. dollar against major world currencies rose 0.5 percent.