Europe Economy

Spain Seeks Eurozone Bailout

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Spain has taken a number in line for a bank bailout from the Eurozone.  This would be the fourth and largest country to seek assistance since the single currency bloc debt crisis started.  Spain’s economy minister announced at a conference in Madrid that the banks that needed recapitalization from European financers.  It is not exactly clear whether the bailout would come from the European Financial Stability Facility (EFSF) or the European Stability Mechanism (ESM); the two infrastructure set up for the European Union to deal with debt crises.

Read it at Aljazeera


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