What if Spain need bailout?

magazine, Media, News, news agency

Conservative Spanish Prime Minister Mariano Rajoy insisted Monday that the country’s banking sector would not need an international rescue as concern over the bailout of nationalized lender Bankia sent its stock price plummeting while Spain’s borrowing costs soared.

The lender’s shares fell 28 percent on opening in Madrid on Monday — Bankia’s first day back on the stock exchange following its announcement Friday that it would need the €19 billion ($23.8 billion) in state aid to shore itself up against its bad loans, a far bigger bailout than expected. The shares, which recovered slightly in the afternoon, closed 13.4 percent lower at €1.36.

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