The European Central Bank has asked Spain to review and strengthen its plans to create "bad banks" where the lenders would park their toxic real estate assets to later sell them off, an ECB document showed on Monday.
"It remains unclear... whether the envisaged framework is sufficient to achieve an effective separation of the risks of banks," the ECB said in an opinion released on Monday.
The opinion is a blow for Spain two days after it agreed with its euro zone partners to receive up to 100 billion euros in European loans.
