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Spain: the new crisis in Euroland
Posted By admin On June 17, 2010 @ 4:20 am In Money Watch | Comments Disabled
Vanessa Mock, John Lichfield and Anita Brooks
London Independent 
June 17, 2010
European leaders meet in Brussels today amid growing fears that Spain, Europe’s fifth-largest economy, is preparing to ask for a bailout which would dwarf the €110bn (£90bn) rescue plan for Greece.
The Spanish government yesterday dismissed reports that it was already in discussions with the European Commission, International Monetary Fund and the US Treasury for a rescue package worth up to €250bn.
Officials in Madrid, Brussels and Paris were forced to deny that a Spanish bailout – which would take the European debt and euro crisis into a potentially dangerous new phase – was on the Brussels summit agenda.
“Spain is a country that is solvent, solid and strong, with international credibility,” said its Prime Minister, Jose Luis Rodriguez Zapatero. The European Commission spokesman said: “I can firmly deny [that a Spanish rescue is under discussion]. I can say that that story is rubbish.”
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 London Independent: http://www.independent.co.uk/news/world/europe/spain-the-new-crisis-in-euroland-2002676.html
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