Spain To Formally Request Bailout By October 19: Barclays

It’s crunch time in Europe again, and it seems like the Spanish bailout is inching closer. After a month of quiet time, courtesy of summer vacations and ECB chief Mario Draghi’s new bond-buying program, top European policymakers are back at it, trying to figure out how to get Spain to request a formal bailout and accept the strict conditionality it will come with.

The Spanish government, headed by PM Marian Rajoy, will unveil its 2013 budget on Friday, and is also expected to announce a new package of structural reforms, and the final stress test of Spanish banks. All of these should pave the way to a bailout request which should come by the next EU Summit (scheduled for October 18 and 19), according to Barclays.

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- Posted: 2012-09-24 14:46:46

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