Initial Thoughts On The Spanish Bank Bailout

BRUSSELS/MADRID (Reuters) - Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.

A few days ago Spain was purportedly going to need another €30 billion to €70 billion to recapitalize Spanish banks. I suggested the amount would be at least triple that and it did not take long to do so. Yahoo! Finance reports Spanish bailout could reach 100 billion euros A bailout for Spain's teetering banks, once requested by Madrid, could amount to as much as 100 billion euros, two senior EU sources told Reuters on Saturday.

Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits ...

LONDON — The euro and European shares fell for a second day on Tuesday as investors worried about the uncertainty over a bailout for Cyprus aimed at preventing a debt default and banking collapse. Cyprus’s revised draft bill for a levy on bank deposits scraps the measure for savings under 20,000 euros but does not compensate for the resulting lost revenue by raising it for the wealthy.

By Claus Vistesen: First off obviously, is Spain's bailout, which was announced Saturday. Alpha.Sources is amazed that it has not happened before really. As we have seen so often before when Europe is on the brink of disaster.

BRUSSELS/BERLIN (Reuters) - The euro zone's senior finance minister urged a rapid resolution of Sp

European shares were called to open higher on Monday after euro zone finance ministers agreed to lend Spain up to 100 billion euros ($125 billion) to shore up its crippled banking system on Saturday.