Spain 'needs outside audits' | Bangkok Post: breakingnews

The International Monetary Fund recommended that Spain take a page from Ireland and use an independent auditor to evaluate its banks, saying that could boost confidence.

This file photo shows Spanish bank Bankia's headquarters in Madrid. The International Monetary Fund has recommended that Spain take a page from Ireland and use an independent auditor to evaluate its banks, saying that could boost confidence.

Antonio Borges, the director of the IMF's European department, on Friday said that Spain needed to make a "stronger effort" to make its struggling economy more export-oriented and further reform its banking system, where confidence has been shaken amid the eurozone public debt crisis.