EU's Rehn: EU members to respect direct bank recaps

MADRID – EU Economic and Monetary Affairs Commissioner Olli Rehn said on Monday he expects euro zone members to respect their commitments regarding direct bank recapitalizations as agreed at a summit in June.

Rehn was speaking in Madrid after a meeting with Spanish Economy Minister Luis de Guindos.

(Reporting By Sarah Morris; Writing by Tracy Rucinski; Editing by Nigel Davies)