At the beginning of April, we published a briefing predicting that Spanish banks were heading for a eurozone bailout – hoping that we wouldn’t be right. Well, alas, it looks like we were. It’s been another frantic week for the eurozone, with Spain taking centre stage amid reports that a request for a bailout to help deal with its troubled banking sector might actually be a matter of hours away. Here is an overview of where we are at.
- EU and German sources told Reuters this morning that Spain is expected to make a formal request for a bailout over the weekend, possibly as early as tomorrow afternoon;