Page last updated at 13:31 GMT, Thursday, 14 January 2010

Weak Spanish economy causes concern

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Spain's banking sector has begun its reporting season with retail bank Banesto posting a 28% drop in 2009 net profit, missing forecasts.

Spanish banks seemed to have dodged the worst of the crisis thanks to better regulation.

Although the government has been able to avoid bank bailouts so far, there is growing concern about the poor state of the Spanish economy.

Sarah Rainsford reports from Madrid.

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