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No Risk of Spanish Caja Collapse

Friday, 21 Jan 2011 | 2:30 AM ET

If the Spanish property sector is as bad as it was in Ireland, Spain's Cajas could need around 40-50 billion euros, Arturo De Frias, head of banks research at Evolution Securities told CNBC.. "That is a very manageable capital deficit, only around 4 percent of GDP," he said.