Group of 20 leaders prodded Spain to spell out details of its bank bailout as the deepening debt crisis in Europe exposed tensions among the world's biggest economies.
With Greece on a financial lifeline and Spain asking for as much as 100 billion euros ($127 billion) in aid for its blighted banks, emerging economies pledged more money to stem the turmoil while chastising the euro area's guardians for damaging market confidence.
G-20 chiefs "talked about how we need clarity on Spain's application as soon as possible," German Chancellor Angela Merkel said yesterday in the Mexican resort of Los Cabos, where leaders began their final day of deliberations. "We all know that banks that aren't properly capitalized are a real source of turmoil and risk for the economy."
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