Spain to boost deposit guarantee and create fund
MADRID (Reuters) - Spain will boost its guarantee for deposits in its banks to 100,000 euros and create a 30 billion euro (23.3 billion pound) fund to support the financial system and keep credit flowing to the economy, Prime Minister Jose Luis Rodriguez Zapatero said on Tuesday.
The fund, which can be extended to 50 billion euros, is not a bank bailout but aimed at keeping the economy moving, Zapatero told a news conference.
(Reporting by Ben Harding and Jason Webb)
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