Bankia to be recapitalised through FROB bank fund: De Guanos
MADRID (Reuters) - Nationalised lender Bankia (BKIA.MC) will be recapitalised through the FROB bank fund, which will issue bonds, Spain's Economy Minister Luis De Guanos said on Wednesday.
"It will be the usual mechanism, through the FROB issuances", De Guanos told journalists after a parliamentary debate on Spain's ongoing banking reform.
The FROB currently has more than four billion euros available while Bankia asked on Friday for a 19 billion euros rescue from the state.
He also said the country's banking crisis does not begin and end with Bankia.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.