Eurozone finance ministers are to hold an emergency conference call Saturday on an expected request for aid from Spain, the fourth and biggest country to cry for help in Europe's two-year debt crisis.The eurozone greenlighted the "holding of a teleconference of the Eurogroup on Saturday at 4:00 pm to agree a declaration on Spain's intention to request aid and the Eurogroup's commitment to granting it," a European government official said.A statement was likely to be issued later on Saturday.
Eurozone finance ministers are to discuss Greece's debt crisis on Sunday, a Spanish government official said on Saturday, after Foreign Minister Miguel Angel Moratinos expressed hoped of a solution.The ministers will hold a conference call at 2:00 pm (1400 GMT) with the aim of "finalising aid mechanisms for Greece," the Spanish official said.Speaking in Paris, Moratinos said, "I am quite optimistic that we are again able to show solidarity and above all send a message to the speculators that the eurozone is strong and firm."
A small dose of reality has set in for a group of European central bankers: Euro Officials Begin to Weigh Greek Exit as Euro Weakens.
Greece’s possible exit from the euro moved to the center of Europe’s financial-crisis debate, rattling markets as authorities in Athens struggled to form a government.
Eurozone finance ministers will discuss Ireland's debt crisis on Tuesday, a day after Dublin said it was in "official" talks with the EU but denied the negotiations involved a financial rescue package. Ireland says only its banks are struggling.
After months of denials, a short Eurogroup Statement shows Spain will submit a formal request to Brussels for a bailout. Here is the statement in full.
The Eurogroup supports the efforts of the Spanish authorities to resolutely
address the restructuring of its financial sector and it welcomes their intention
to seek financial assistance from euro area Member States to this effect.
Eurozone finance ministers are to hold an emergency conference call on Saturday on aid for banks in Spain, tipped as the fourth and biggest country to need help in Europe's two-year debt crisis.A teleconference of the Eurogroup of finance ministers was planned at 1400 GMT "to agree a declaration on Spain's intention to request aid and the Eurogroup's commitment to granting it," a European government official said.