Markets Rally After 81bn-Pound Spain Bank Bailout

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Markets Rally After £81bn Spain Bank Bailout 11 Jun 2012 Asian stocks and the euro rose sharply after Spain sought a lifeline for its ailing banks, easing fears that Europe’s debt crisis was about to spin out of control. The markets rallied after Spain asked finance ministers from the 17 euro-using countries to rescue its banks, which have been crushed by bad real estate loans. They responded by offering up to $ 100 billion euros (£81bn) in credit that the Spanish government could funnel to banks.

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