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EU funds are not for Spain bank shareholders - Almunia
November 5, 2012 / 9:36 AM / 5 years ago

EU funds are not for Spain bank shareholders - Almunia

MADRID (Reuters) - European Union rescue funds cannot be used to compensate shareholders in Spain who lost money on bank preference shares, the EU’s competition chief Joaquin Almunia said on Monday.

“If it is necessary to compensate (shareholders) it can only be done with money from Spain,” Almunia told reporters at a breakfast in Madrid.

Reporting By Robert Hetz, writing by Sarah Morris, editing by Jesus Aguado

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