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De Cos said harm to financial sector needs to be avoided Government considers extending forced insolvency proceedings (Adds details on bankruptcy proceedings, comments from Bank of Spain Governor) MADRID, March 3 (Reuters) - Constructing an efficient aid package to help small companies reduce excess debt they took on to cushion the effects of COVID-19 has not been an easy task, Bank of Spain Governor Pablo Hernandez de Cos said on Wednesday. The government is working on an 11 billion euro ($13.2 billion) package on top of existing support measures to help Spain’s small and mid-sized companies but has not given details. “Defining what is a sustainable or a non-sustainable (company), and what is a viable and non-viable (company) is by no means obvious,” De Cos told a financial event hosted by the Madrid’s Universidad Autonoma.

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