By Annika Breidthardt and Andreas Rinke – While Berlin remains firm in its rejection of Spain’s calls for Europe‘s rescue funds to lend directly to its banks, the officials said that if Madrid put in a formal aid request, funds could flow without it submitting to the kind of strict reform program agreed for Greece, Portugal and Ireland.
Instead, Spain would only have to agree to new conditions tied to the reform of its banking sector. more> http://tinyurl.com/cbp35pt
- G7 takes no action as Spain issues desperate plea (business.financialpost.com)
- Spain teeters on euro brink, but is it too big for Germany to bully? (theweek.co.uk)
- Spain Is Performing An Incredible Show Of Doublethink (businessinsider.com)
- Spain says losing access to credit, seeks help for banks, Julien Toyer and Kaori Kaneko, Reuters