Spain Aid Bid Looms

Eurozone finance chiefs plan weekend talks on assistance for Spain’s banks.

Spain is poised to become the fourth of the 17 euro-area countries to require emergency assistance as the currency bloc’s finance chiefs plan weekend talks on a potential aid request to shore up the nation’s lenders.

A bid for help may come as soon as tomorrow when euro finance ministers hold a conference call, said a German government official and a European Union aide, each of whom declined to be identified because the matter is confidential.

Spanish Yield

Pressure is building on Spain to take some kind of bailout. European Central Bank Governing Council member Ewald Nowotny said today that any delay by the nation in requesting aid would increase the costs of a rescue.

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