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    Spain to ask for aid as EU fights debt crisis

    Sun, 06/24/2012 - 20:58 EDT - theglobeandmail.com
    • RDF10

    Will formally request up to €100-billion in aid to recapitalize its banks

    • Original article
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    Related

    • Bailout Lite? There's Really No Such Thing; €30 Billion Needed? It's Now €100 Billion; Contagion of Economic Idiocy

      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.

    • More Thoughts On 'Spain-Lite'

      By Marc Chandler:Greece has been the model for Portuguese and Irish aid. This may or may not have been fair and appropriate. After all, the nature of the Portuguese and Irish problems were dissimilar from Greece and each other. Spain's is more like Ireland's. The key differences include Spain's size, officials have progressed on a learning curve, and the now perceived greater vulnerability of the whole EMU project.

    • Spain Blinks: Accepts €100 Billion Bailout Via EFSF/ESM; FROB to Receive the Money

      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.

    • Spain makes formal request for EU bank aid

      MADRID (Reuters) - Spain on Monday requested formally t

    • Schäuble Rejects ECB Help for Spain; Full Bailout Still Coming

      As any clear-thinking person should have expected, Schäuble rejects ECB help for Spain

    • Euro Zone Rescue Fund To Directly Aid Spanish Banks

      Spain's struggling banks will receive as much as €100 billion ($123 billion) in emergency loans from European governments under terms of a tentative deal reached early Tuesday by euro zone leaders. The first €30 billion, which will come from the euro zone's rescue fund, could be dispensed by the end of the month, the Financial Times reported. Euro zone leaders decided to recapitalize the banks directly to keep from expanding the Spanish government's balance sheet.

    • Spain formally requests aid for banks; Wall Street slides

      Spain made a formal request on Monday asking fellow Eurozone countries to help with its crumbling banks -- a financial aid package that could be worth up to 100 billion euros, or about $125 billion.

    • Spain Expects to Recapitalize Own Banks Without Aid

    • Spain requests EU aid, market hopes dim

      MADRID/BRUSSELS (Reuters) - Spain formally requested euro zone rescue loans to recapitalize its debt-laden banks on Monday as the euro and shares fell on investor skepticism about this week's EU summit. Spanish Economy Minister Luis de Guindos asked for up to 100 billion euros ($125 billion) in a letter to Eurogroup chairman Jean-Claude Juncker, saying the final amount of financial assistance would be set at a later stage. ...

    • Spain Potpourri: Official Denials From Finance Minister; More Nationalizations Coming Up; Banks Use ECB Money to Refinance Large Enterprises in Dire Shape, New Credit To Households Down 80%

      Official Denials From Finance Minister Finance Minister Says "Nothing to Hide" Asks for ECB Audit of Banks, Denies Need for Rescue Fund

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