- The Spanish acceptance of aid for its banks is a big embarrassment for Prime Minister Mariano Rajoy, who insisted just 10 days ago that the banking sector would not need a bailout. He was elected in November and walked right into a hurricane. (msnbc.com)
- The markets made some progress last week based mainly on speculation a bailout for Spanish banks was coming soon. (Seekingalpha.com)
- The Spanish parent of Boston-based Sovereign Bank has been battered by the European economic crisis in recent months, but insists it remains financially strong and doesn't need a bailout. (The Boston Globe)
- The Australian share market is set to climb higher on Tuesday when it plays catch-up to the reaction of global equities markets to Europes 100 billion euros ($A126 billion) bailout of Spanish banks. (Sydney Morning Herald)
- Spains decision to request a loan of up to 100bn euros ($125bn; £80bn) from eurozone funds to help shore up its struggling banks has won broad support. (BBC News)
- Sydney - The austerity measures imposed by Germany as a condition of its funding the Greek bailout are repulsive and unworkable. They truly stink. But- Spain and the other faltering EU economies are proving the Germans right about the need for controls. (Digital Journal)
- MADRID: Financial markets speculated Friday on a vast, European bailout for Spains distressed banks as soon as this weekend, even as Madrid denied knowledge of the plan. (Economic Times)
- Euro zone finance ministers meet to discuss a bailout of Spains banks on Saturday, although officials have sought to emphasise that the Spanish troubles were spawned by a burst property bubble rather than by government finances as in Greece. (Yahoo Finance)
- MADRID—Spain declared Tuesday it is being virtually shut out of stormy credit markets but a bailout is technically impossible for the eurozone's fourth-biggest economy. (The Vancouver Sun)
Saturday, June 9, 2012
Spanish Bailout
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