Reuters: Regulatory News: Spain plans more salary cuts for rescued banks

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Spain plans more salary cuts for rescued banks Aug 31st 2012, 12:27 MADRID | Fri Aug 31, 2012 8:27am EDT MADRID Aug 31 (Reuters) - The Spanish government plans to further cut the salaries of executives at banks that have received financial aid, Economy Minister Luis de Guindos said on Friday. De Guindos was announcing new banking sector regulation as conditions to receiving up to 100 billion euros in European aid to prop up the country's most troubled banks. He said that for the time being there was no need to ask for accelerated aid for any Spanish banks.

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