- Spain has responded quickly to debt crisis
- Euro zone must quickly come to a joint decision; won’t add to rumors
- Enormous differences between Irish, Spanish banking systems.
- Has asked banks for more financial details by year end
- Doesn’t see Cajas (savings banks) getting more government funds in 2011
- Banks reasonably well capitalized, government fund open if it needs to be used further.
Ordonez is the governor of the Bank of Spain and therefor a member of the ECB governing council…