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Spain Could Manage Without Aid For Its Banks: Pro

Wednesday, 11 Jul 2012 | 4:00 AM ET

Patrick Armstrong, Managing Partner at Armstrong Investment, commented on the Spanish tax hikes announcement: "This might be a precursor to something that will come in the way of some sort of funding. (...) Spain could manage without the aid for its banks if it had the unequivocal support that they would be supported, would they need it, which would push Spanish yields down."