Spain could ask for a rescue of its struggling banks this weekend when European finance ministers hold an emergency conference call Saturday to discuss the country’s financial problems, a move that would make it the fourth member of the 17-nation eurozone to seek outside help since the continent’s financial crisis erupted two years ago.
Category: Banking (Local and Global)
Spain’s Record Yields Show Italy Bailout Risk as Crisis Spreads
Spain’s benchmark borrowing costs climbed to a record yesterday, raising the specter of sovereign bailouts for the government in Madrid and then Italy that would stretch European Union finances to their limit.
WikiLeaks Handed Data on Secret Swiss Bank Accounts
Swiss whistle-blower Rudolf Elmer — the former chief operating officer of the Cayman Islands subsidiary for Swiss bank Julius Baer — handed the discs to WikiLeaks founder Julian Assange at a press conference in London. The data relate to offshore bank accounts allegedly held by individuals and companies from across the world, including the U.S., U.K. and Germany, and covers 1990 to 2009.