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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 [1]
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.” 

Full article here [1]

Spain: the new crisis in Euroland 150410banner7 [2]

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URLs in this post:

[1] London Independent: http://www.independent.co.uk/news/world/europe/spain-the-new-crisis-in-euroland-2002676.html

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Debt crisis: Spain and Italy to be bailed out in £600bn deal: http://www.prisonplanet.com/debt-crisis-spain-and-italy-to-be-bailed-out-in-600bn-deal.html

[4] Spain, Portugal and Belgium set to follow Ireland into abyss as debt crisis threatens to destroy the euro: http://www.prisonplanet.com/spain-portugal-and-belgium-set-to-follow-ireland-into-abyss-as-debt-crisis-threatens-to-destroy-the-euro.html

[5] EU leaders to thrash out multi-billion pound rescue package for Spain as it faces bankruptcy: http://www.prisonplanet.com/eu-leaders-to-thrash-out-multi-billion-pound-rescue-package-for-spain-as-it-faces-bankruptcy.html

[6] Greek anger as Spain is handed 100bn bailout with NO need for austerity measures… and world markets bounce back: http://www.prisonplanet.com/greek-anger-as-spain-is-handed-100bn-bailout-with-no-need-for-austerity-measures-and-world-markets-bounce-back.html

[7] IMF drawing up £500bn package to save Italy, Spain and the euro: http://www.prisonplanet.com/imf-drawing-up-500bn-package-to-save-italy-spain-and-the-euro.html

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