News Headline Summary

Spain's finance minister says Spain's position on bailout is unchanged

- Must find accord with IMF on Greek funding package.
- No divergence in Eurozone on Greece.
- EU aid for Spain banks to be about EUR 40bln.

Update details:

- Over the weekend it was reported that the Spanish government will ask the European Union for a bailout of between EUR 40bln and EUR 42.5bln for its banking sector.
- EUR 37bln will go to the four nationalized banks - Bankia SA, Novagalicia, CatalunyaCaixi and Banco de Valencia - another EUR 2.5bln will go the country's bad bank and between EUR 2bln and EUR 3bln will be used for those entities that, even though are not controlled by the government, will need state aid.

Print 11:26, 26 Nov 2012 - Economic commentary - Source: Newswires