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Spain formally requests banking aid

Spain formally requests banking aid

25 June 2012 14:05 (UTC +04:00)

Baku â€“ APA-Economics. Spain formally sought a banking rescue of up to 100 billion euros ($125 billion) Monday, kicking off a pivotal week in the battle for the eurozone’s future, AFP reported.

The plea to Spain’s eurozone partners shed little new light on how the help will be delivered to the banks, hobbled by huge, reckless loans that turned sour after a property bubble imploded in 2008.

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