By Ben Rooney @CNNMoneyInvest June 17, 2012
NEW YORK (CNNMoney) — The recent €100 billion bailout of Spain’s banks will leave Europe’s financial rescue fund without enough money to bail out another big economy, an international banking group warned on Sunday.
“[A]fter committing €100 billion for the Spanish saving banks, the Eurogroup’s rescue funds, as currently authorized and structured, will have sufficient funds to help a small economy like Cyprus, but hardly enough to deal with any large country,” the Institute of International Finance wrote in report to its members.
The IIF represents more than 450 financial institutions in 70-plus countries. It was the lead negotiator on behalf of the private sector in the restructuring of Greek government debt earlier this year.