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Spain asks for $100 billion bailout

Jun 09, 2012

"BRUSSELS/MADRID, June 9 (Reuters) - Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week."

Spain is the "S" in PIGS. They join Portugal, Ireland, and Greece in the need for bailouts. This bailout makes PIGS plural.

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Category: Financial

Dr. Stephen Jones

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