Just one day after the ratings agency Fitch downgraded Spain’s sovereign credit rating by three notches, Spain is expected to request a bailout package to rescue its troubled banking sector. On Saturday the 17 member states of the eurozone will discuss the country’s appeal for aid via conference call.
“The government of Spain has realized the seriousness of their problem,” a senior German official said. He went on to say that an agreement had to be reached before Greeks head to the polls on June 17.
Via The Guardian.
