|I.M.F. Releases Report Early To Push Spain To Accept A European Bailout|
|Saturday, June 09, 2012 16:54|
In an apparent bid to raise pressure on Spain to accept a European bailout for its wobbly banks, the International Monetary Fund announced the banks would need nearly $50 billion in extra capital just to guard against a deepening of the country’s economic crisis.
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The release of the estimate Friday night, several days early, came hours before finance ministers from the 17 euro zone countries were holding a conference call to try to persuade the Spanish government to swallow its pride and ask for help, says The New York Times.
Megan Greene, Director of European Economics at Roubini Global Economics, discusses what are EZ policymakers trying to achieve with a Spanish bail bailout and whether they can succeed.