In Santiago de Compostela on Saturday, the Pope warned of an "aggressive anti-clericalism" in Spain which was akin to that experienced during the 1930s.

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The company said it was taking "aggressive" steps to cut its exposure to Spain.

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So today there exists a roadmap towards much more aggressive support by the European Central Bank for governments like Spain struggling to borrow through its planned Outright Monetary Transactions (OMT).

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