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NHK News | Jun. 9, 2012 - Updated 02:21 UTC (11:21 JST)
Spain is facing growing speculation that it will request a bailout from the European Union to
recapitalize its banks with public funds. The Spanish government is denying the rumor. Observers
say support from the EU and other organizations is inevitable for Spain. Banks in that country are
saddled with massive bad loans while the government is under severe fiscal pressure.
The humiliating move by Europe's fourth-biggest economy is tipped to follow a conference call today
between the Eurozone's 17 members. EU insiders are desperate for a Spanish deal to be reached
by June 17 — when Greeks go to the polls to elect a new government.
Financial industry sources estimate that Spain will need at least 125 billion dollars for recapitalization.
IF Spain did make a request, it will be the fourth country after Greece, Ireland, and Portugal to seek
bailouts.
<iframe width="640" height="360" src="http://www.youtube.com/embed/JUZOmt8Doac" frameborder="0" allowfullscreen></iframe>
Spain is facing growing speculation that it will request a bailout from the European Union to
recapitalize its banks with public funds. The Spanish government is denying the rumor. Observers
say support from the EU and other organizations is inevitable for Spain. Banks in that country are
saddled with massive bad loans while the government is under severe fiscal pressure.
The humiliating move by Europe's fourth-biggest economy is tipped to follow a conference call today
between the Eurozone's 17 members. EU insiders are desperate for a Spanish deal to be reached
by June 17 — when Greeks go to the polls to elect a new government.
Financial industry sources estimate that Spain will need at least 125 billion dollars for recapitalization.
IF Spain did make a request, it will be the fourth country after Greece, Ireland, and Portugal to seek
bailouts.
<iframe width="640" height="360" src="http://www.youtube.com/embed/JUZOmt8Doac" frameborder="0" allowfullscreen></iframe>
