BRUSSELS (Reuters) - A bailout for Spain's teetering banks, once requested by Madrid, could amount to as much as 100 billion euros, two senior EU sources told Reuters on Saturday.
Spain has not yet made a formal request for European aid but it could come during a conference call of euro zone finance ministers, the sources, who were both on an earlier call to discuss the technicalities of a rescue, said.
"A decision on Spain will only be taken ... by the ministers (in a second call). Madrid has not officially asked for help yet," one of the officials said. "The statement will mention 100 billion euros as an upper limit."
The Eurogroup of finance ministers is scheduled to begin its call at 4 p.m. Brussels time (1400 GMT). Earlier, its chairman, Jean-Claude Juncker, called for a "quick solution".
Several EU sources told Reuters on Friday that Madrid was expected to ask the currency bloc for help with recapitalizing its banks this weekend, becoming the fourth country to seek assistance since Europe's debt crisis began.
Saturday, June 9, 2012
Spanish bailout could reach €100 billion