European commissioner for monetary affairs Olli Rehn said that allowing the European Stability Mechanism to recapitalise banks is a cornerstone to Europe's response to the debt crisis.
The ESM, which is set to replace the current temporary bailout fund, will be a powerful tool in the euro area, he said.
Rehn said he is confident that Spain will adopt convincing measures and that "this will send a strong signal of Spain's commitment to sustainable public...
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