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Spain Economy - Page 2

Moody's to downgrade 21 Spanish banks:

Moody's is set to 'significantly' downgrade 21 Spanish banks within a week, following a cut of credit ratings on Italian banks, the Spanish economic daily Expansion said on Wednesday. Ref. Source 3

Economy Spain

Spain to seek banking bailout from eurozone

Spain will ask for a bank bailout from the eurozone, becoming the fourth and largest country to seek help since the single currency bloc's debt crisis erupted. Ref. USAToday

Spain Economy History & Civil Business Politics

Fitch Downgrades 18 Spanish Banks, Cites Concern About Bad Loans:

Fitch, which estimates the capital needs of Spanish banks at as much as 60 billion euros under a "base case" scenario, said it had considered its sovereign downgrade for Spain on June 7 and also the potential for loans of certain banks to worsen in taking today's actions on the lenders. Ref. Source 4

Page 2 Economy Spain

Spain requests EU bailout

Spain formally requested euro zone rescue loans to recapitalise banks that are laden with bad debts as the euro and shares fell due to investors' skepticism that a European Union summit this week will act decisively on the bloc's debt crisis. Ref. Stuff.co.nz

Economy Spain

Spain unveils massive cuts amid protests:

PM Mariano Rajoy says nation's future at stake as he announces $79bn in tax hikes and spending cuts needed for bailout. Ref. Source 2

Spain Economy

Spain Will Have To Cede Most Control Of Banks: WSJ:

Spain will likely have to cede most control over its banks to Europe in exchange for assistance, according to a draft agreement of the bank bailout agreement, The Wall Street Journal reported Ref. Source 8

Spain Economy - Page 2

Spain gears up for bank bailout by eurozone partners:

Up to 60bn euros (£48bn; $78bn) will be needed to bail out Spain's banks, according to the country's second biggest lender, BBVA. Ref. Source 9

Spain Economy Politics Business Civil & History - Page 2

Spain : One In Five Lives in Poverty, New Figures Show

The national statistics institute INE said 21.1 per cent of the 47-million population lives below the poverty line, meaning they live on less than 7,355 euros (9,610 dollars) annually. Ref. Source 7