Thursday, June 21, 2012

Spanish Banks Need Up To 62bn Euros Bailout

The Spanish government has announced that up to 62 billion euros will be needed to recapitalise its struggling banks.

A figure of 100 billion euros has already been pledged by eurozone leaders.
The audit of their balance sheets was carried out by two independent consulting firms, Oliver Wyman and Roland Berger.

Earlier this month Spain's government asked the EU for money to help prop up its beleaguered financial sector. Read more