Markets Move as FROB could be Key to Saving Spanish Banks

June 6, 2012 10:29 AM EDT
Markets in Europe are higher today on news that a deal is being hammered out between the Germans and the Spanish that would allow the Spanish to recapitalize their banks without strict reforms. Officials in Berlin are also looking into putting money directly into Spain’s Fund for Orderly Bank Restructuring (FROB).

An IMF report on Spain's banks is due out next week and officials are rushing to get funds in place ahead of time, along with a plan everyone can except.

Vanguard MSCI Europe ETF (NYSE: VGK) is up 2 percent following the news.

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