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Spain's ailing banks threaten country's finances

June 9, 2012 • Business


Spain’s Prime Minister Mariano Rajoy, adjust his glasses before a meeting with Netherlands’ Prime Minister Mark Rutte at the Moncloa Palace, in Madrid, Thursday, June 7, 2012. Spain’s Prime Minister appeared Thursday to have abandoned his insistence that the country’s troubled banking sector will not need an external bailout, as for the first time he avoided ruling out such an option.(AP Photo/Daniel Ochoa de Olza)

MADRID (AP) — Spain is under rising pressure to find a lifeline for its deeply troubled banks.

Politicians in Europe and investors around the world are worried that the recession-hit country can’t come up with the money needed to save its banks without bankrupting the government. Expectations are rising that Spain’s leaders will have to seek an international bailout for banks crumbling under the weight Login to read more

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