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Spain Could Ask For Bank Bailout This Weekend

Spain could ask for a rescue of its struggling banks this weekend when European finance ministers hold an emergency conference call Saturday to discuss the country's financial problems, a move that would make it the fourth member of the 17-nation eurozone to seek outside help since the continent's debt crisis erupted two years ago.

 

IMF: Spanish banks need $46 billion

Spain Bailout

Spain's banks need at least 40 billion euros (about $46 billion) in fresh capital to preserve the country's financial stability, the International Monetary Fund said Friday in an eagerly-awaited report.

 

Spain: bailout decision could come this month

Spain could decide this month to ask for a bailout for its troubled banking sector, a step that would make it the fourth country in the 17-member eurozone to seek help since the EU debt crisis broke out....

 

Stocks pull back as euro zone fears weigh

Stocks fell Friday, as investors erred on the side of caution ahead of a weekend expected to bring new developments in dealing with Spain's banking crisis.

 

Fitch slashes Spain rating by three notches to "BBB"

Spain's credit rating was slashed by three notches on Thursday by Fitch, which signaled it could make further cuts as the cost of restructuring the country's troubled banking system spiraled and Greece's crisis deepened.

 

Spain says markets shutting it out, seeks EU help for banks

Spain's high borrowing costs mean it is effectively shut out of the bond market and the European Union should help Madrid recapitalize its debt-laden banks, Treasury minister Cristobal Montoro said on Tuesday.

 

Lots of Bad News Today: Europe, Asia, Jobs ... All Bad

So much for TGIF: all economic reports today were either disappointing or just plain bad.

First, people in Spain are taking their money out of local banks and putting them overseas. It’s similar to what the Greeks did a couple weeks ago - or was it a month? Either way, it’s not good.

 

Bund, Treasury, Gilt Yields Drop to Records as Euro Crisis Grows

German, US and UK yields fell to all-time lows after Spanish Economy Minister Luis de Guindos said the future of the euro is at stake, driving demand for the safest government securities.

 

Money flies out of Spain, regions pressured

Spain

Spaniards alarmed by the dire state of their banks are squirreling money abroad at the fastest rate since records began, figures showed on Thursday, and the credit ratings of eight regions were cut.

Senh: I guess they're following the Greeks.

 

Irish "yes" to give euro zone scant respite

Ireland was poised to announce a "yes" vote to a European budget discipline treaty on Friday, but the referendum result brings little respite to a euro zone tormented by doubts over Greece's future in the currency bloc and Spain's wobbly banks.

 

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