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Spain has yet to ask for banking sector help-EU sources
June 9, 2012 / 2:01 PM / in 6 years

Spain has yet to ask for banking sector help-EU sources

BRUSSELS, June 9 (Reuters) - Spain has not yet asked for financial help for its banking sector but a decision on the issue could come during a conference call of euro zone finance ministers on Saturday, European Union sources said.

Several EU sources told Reuters on Friday that Madrid was expected to ask the currency bloc for help with recapitalising its banks this weekend, becoming the fourth country to seek assistance since Europe’s debt crisis began.

Euro zone finance ministers were set to discuss the issue during a call, expected to start at 1400 GMT.

“A decision on Spain will only be taken at 4 p.m. by the ministers. Madrid has not officially ask for help yet”, one EU official said.

He added a statement by the ministers, expected to be released after the call, could mention 100 billion euros ($125 billion) as the upper limit of a possible aid package.

Another source said Spain had been resisting any plan for its banks that would involve the International Monetary Fund.

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