Spain to Accept Rescue From Europe for Its Ailing Banks

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Spain to Accept Rescue From Europe for Its Ailing Banks

NY Times – Responding to increasingly urgent calls from across Europe and the United States, Spain on Saturday agreed to accept a bailout for its cash-starved banks as European finance ministers offered an aid package of up to $125 billion. European leaders hope the promise of such a large package, made in an emergency conference call with Spain, will quell rising financial turmoil ahead of elections in Greece that they fear could further shake world markets. Read Article

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