Spanish bank recap by euro zone bailout fund not this year-official

by on October 5, 2012 9:21 am BST

Fri Oct 5, 2012 5:21am EDT

Oct 5 (Reuters) – – It is difficult to say when
exactly direct recapitalisation of Spanish banks by the euro
zone permanent bailout fund, the European Stability Mechanism
(ESM), will be possible, but it will not be as soon as the start
of next year, a senior euro zone official said on Friday.