According an independent audit, Spain’s banks will need an injection of 59.3 billion euros ($76.3 billion) to survive a serious downturn. The amount is broadly in line with market expectations of 60 billion euros, and follows so-called stress tests of 14 Spanish lenders. Much of the money is expected to come from the eurozone rescue [...]
Eurozone finance ministers have decided to lend Spain 30 billion Euros ($37 billion) this month to help its troubled banks. It will be the first installment of a bailout of up to 100 billion Euros, which was agreed in June. The ministers will need to get approval from their own parliaments and hope to make [...]
Eurozone finance ministers are to hold a conference call to discuss a bailout for Spanish banks. EU sources say Madrid could formally request financial assistance for its troubled banks this weekend. So far Spain has denied reports that an announcement on a European rescue plan for its banks is close. The International Monetary Fund (IMF) [...]
Spanish Economy Minister Luis de Guindos has dismissed talk of it seeking a bailout from the International Monetary Fund (IMF) as “senseless”. And the IMF denied that Spain had asked to discuss rescue loans. The IMF has contributed to bailouts of all the other eurozone nations, such as Greece, that needed help. Meanwhile, the European [...]
European stock markets had a shaky start on Friday as concern continued over Greece and Spain. Spain’s main share index fell more than 2% before recovering, while shares in London fell by as much as 1%. Confidence in European banks was undermined by ratings agency Moody’s, which cut the credit ratings of 16 Spanish banks [...]
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Michael Jackson's promoters dealings with his doctor were "highly inappropriate", says David BermanAEG Live's dealings with Michael Jackson's doctor were "highly inappropriate", music industry expert David Berman has told a US court. Michael Jackson died in 2009 following…
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