Spanish bailout likely, says Citigroup

Citigroup has said that it is likely that Spain will get external aid from European authorities and the International Monetary Fund this year to help overcome its debt crisis

3rd April, 2012
Spanish bailout likely, says Citigroup
Spanish Prime Minister Mariano Rajoy defied European Union allies by raising his nation’s deficit target.

Citigroup has said that it is likely that Spain will get external aid from European authorities and the International Monetary Fund this year to help overcome its debt crisis, while retaining the ability to raise funds through bond sales.

The European Central Bank will support the country’s financial sector, and the nation is unlikely to follow Greece into needing a debt restructuring, Citigroup’s London-based analysts Ebrahim Rahbari and Guillaume Menuet wrote today in a note...

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