Spain may need EU, IMF bailout
2012-04-04 17:34:45
Spain may need a bailout from the European Union and the International Monetary Fund this year, according to the U.S.-based Citygroup Corporation.
The new draft budget submitted to the Spanish parliament on Tuesday shows that the government is planning to borrow about 37 million euro, which could push Spain’s public debt up to nearly 80% of GDP.