The European division of the International Monetary Fund is looking at possible plans for a rescue loan to Spain if that country can't find the cash to bail out its third-largest bank by assets, the Wall Street Journal reported Thursday, citing unnamed sources.
The European division of the International Monetary Fund is looking at possible plans for a rescue loan to Spain if that country can't find the cash to bail out its third-largest bank by assets, the Wall Street Journal reported Thursday, citing unnamed sources. Spain is reportedly short 10 billion euros needed to save Bankia S.A. [es:bkia]; the total tab will run to 19 billion euros, but Spain's bank bailout fund has 9 billion euros left, the newspaper noted. A bailout would essentially nationalize the bank, which got caught short as s result of a crash in the real-estate market and general economic downturn.
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