Spain to Present New Bank Clean-up Measures

Spain's prime minister said Monday the government will likely present important bank clean-up measures this week to clear up doubts about the solvency of the sector — a key source of worry over whether Spain might need a financial bailout.

In case there was any doubt that the European circus could get any more ridiculous, here comes Spain's uber-unpopular Prime Minister Mariano Rajoy, already embroiled in a massive kickback political scandal, with a quote that just blows everyone away: "I repeat what I said Saturday: everything that has been said about me and my colleagues in the party is untrue, except for some things that have been published by some media outlets." And scene as your frontal lobe explodes.

Spain’s prime minister said the government will likely present new measures to help banks, a key source of worry over whether the country might need a financial bailout.