Spain bailout rumour played down

DHAKA: Reports that Spain will ask for help for its banks this weekend have been played down by authorities across the eurozone.

 There were also reports that the Eurogroup of finance ministers would meet on Saturday to discuss the issue.

 Spokespeople for the Spanish government and European authorities said they had no knowledge of such plans.

 Spain has said all week that no action would be taken until it knows how much money its banks need.

 But an International news agency said the request would come on Saturday, quoting a senior German official as saying: "The government of Spain has realised the seriousness of their problem."

 A number of audits into the extent of bad loans is being carried out to determine how much needs to be found to shore up the stricken banks.

 The first report is due on Monday from the International Monetary Fund, with the findings of two further audits expected to be published later in the month. BBC

 BDST: 1910 HRS, JUN 08, 2012

Edited by: Abul Kalam Azad, Newsroom Editor