Analysts suggest that Spain’s banks could need US$111 billion (85 billion euros) in order to remain solvent as fears grow that Portugal, Spain, and Italy are all in need of emergency funding.
Ã¢â‚¬Å“The big elephant in the room is not Portugal but, of course, itÃ¢â‚¬â„¢s Spain,Ã¢â‚¬Â Nouriel Roubini, the New York University professor who predicted the global financial crisis, said at a conference in Prague yesterday. Ã¢â‚¬Å“There is not enough official money to bail out Spain if trouble occurs.Ã¢â‚¬Â
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