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Third, if the bailout loan ranks ahead of existing private-sector loans to the Spanish government, there is a risk that Spain will end up paying more to borrow from conventional commercial sources - which is precisely the opposite of what it wanted.
BBC: Messy Spanish rescue
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State-owned banks still dominate the financial sector and are kept profitable by a positive spread between loan and deposit rates dictated by government policy.
FORBES: China's Challenge: Balancing the State and Market
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As with other loans under this new facility, the Kenyan loan was approved only after a consultation process led by the Kenyan government with extensive participation by the private sector and non-governmental and community-based organisations.
ECONOMIST: Begging your pardon