Spain is expected to partially nationalize its weakest savings banks, or cajas, to help quash fears of a potential sovereign debt crisis in the European nation. The Orderly Bank Restructuring Fund is prepared to provide financing to cajas that cannot raise capital, the Guardian reports.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.