Spain Officially Asks For Its Bank Bailout

Mariano Rajoy, Spain PM

Photo: Denis Doyle/ Getty Images

It’s official.After agreeing to accept/receive/ask for a bailout from the rest of the Eurozone for its banks two weekends ago, Spain has officially requested one according to various reports, including Bloomberg’s Linda Yueh.

Ever since the original bailout was announced, there have been a lot of questions about what, exactly, is in the bailout agreement. We may soon find out.

UPDATE: There are apparently basically no details in the letter. It will be updated again in early July with more numbers and a detailed Memorandum of Understanding.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at