EU funds are not for Spain bank shareholders - Almunia

MADRID Mon Nov 5, 2012 4:22am EST

MADRID Nov 5 (Reuters) - European Union rescue funds cannot be used to compensate shareholders in Spain who lost money on bank preference shares, the EU's competition chief Joaquin Almunia said on Monday.

"If it is necessary to compensate (shareholders) it can only be done with money from Spain," Almunia told reporters at a breakfast in Madrid.

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