Rumours abound that Spain is on the verge of requesting a ‘bailout’ and it would be more than double the amount requested by Greece.
Whether the rumours are based on speculation or fact is hard to see at the moment, but there are certainly conflicting statements being made.
Prime Minister José Luis Rodríguez Zapatero:
Spain is a country that is solvent, solid and strong, with international credibility
Francisco Gonzalez, chairman of the BBVA financial services group, confirmed that foreign private banks were now refusing to provide liquidity to their Spanish counterparts, saying:
Financial markets have withdrawn their confidence in our country. For most Spanish companies and entities, international capital markets are closed.