The Spanish region of Murcia became the third to say it willneed emergency loans, and Valencia signaled it needs funds to covercurrent and past overspending, adding fiscal pressure on PrimeMinister Mariano Rajoy.
A day after Catalonia said it needed 5 billion euros ($6.3billion) from an 18 billion-euro bailout fund announced by Rajoylast month, an official in southeastern Murcia yesterday put itsneeds at 700 million euros. In Valencia, an official who asked notto be named in line with policy confirmed remarks by economy chiefMaximo Buch to Europa Press that 3.5 billion euros would cover onlycurrent needs.
Rajoy meets in Madrid today with French President FrancoisHollande as he considers seeking a second European bailout aftersecuring up to 100 billion euros ($125 billion) in loans for banks.Rajoy hosted European Union President Herman Van Rompuy on Aug.28.
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