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House Sales Spain (http://www.housesalesspain.com/) reports on a piece in the New York Times which follows up the results of the stress tests placed on the Spanish banking sector. On 23^rd July, the Bank of Spain published the findings of the stress test. There were clear differences between how savings banks and commercial banks performed, but overall the Spanish banking sector was thought to be "clearly above average", news that will encourage investors which will in turn help property sales in Spain to recover.

Unsurprisingly, some Spanish banks will require financial assistance (five will receive a total of around €2 billion in government funding), but governor of the Bank of Spain Miguel