Saturday, June 9, 2012

Eurozone Finance Ministers Meet To Discuss Spain Banking Bailout

The IMF reported that Spanish banks need at least euro 40 billion to recapitalize its banks upon completion of a stress test.  The Spanish government will not be able to recapitalize the banks, therefore, the money will have to come from elsewhere.  Some believe that help must come before the Greek elections on June 17 in order to prevent a bank run.

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