This weekend, the Spanish government formally asked the European Union for help recapitalizing its troubled banking sector.
The proposed loan through two European bailout funds—the currently active EFSF and the ESM, set to go into effect later this summer—would give Spanish banks access to €100 billion ($125 billion) in international funding to stay afloat.
But as investors are swiftly realising, the devil is in the details in this watershed Spanish bailout.
Produced by Robert Libetti
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