The Spanish region of Murcia became the third to say it will need emergency loans, and Valencia signaled it needs funds to cover current and past overspending, adding fiscal pressure on Prime Minister Mariano Rajoy.
A day after Catalonia said it needed 5 billion euros ($6.3 billion) from an 18 billion-euro bailout fund announced by Rajoy last month, an official in southeastern Murcia yesterday put its needs at 700 million euros. In Valencia, an official who asked not to be named in line with policy confirmed remarks by economy chief Maximo Buch to Europa Press that 3.5 billion euros would cover only current needs.
Rajoy meets in Madrid today with French President Francois Hollande as he considers seeking a second European bailout after securing 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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