Spain to decide on bailout plea

Jun 8 2012

Spain has indicated it could decide this month whether to request a bailout for its troubled banking sector.

Deputy Prime Minister Soraya Saenz de Santamaria said the government will not act until receiving evaluations from the IMF on Monday and then two independent auditors Spain has hired.

The economy ministry said on its website the latter are expected by June 21 at the latest.

The official said after a Cabinet meeting no decision on a bailout has been taken.

Commenting on reports that eurozone finance ministers will hold a conference call on Saturday on Spain, Saenz de Santamaria said "no meeting is planned".

She would not confirm or deny whether some kind of contact would take place.

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