(8 Jun 2012) Spain said on Friday it could decide this month on whether to request a bailout for its troubled banking sector.
Deputy Prime Minister Soraya Saenz de Santamaria said the government will not act until receiving evaluations from the International Monetary Fund on Monday and then two independent auditors Spain has hired.
The economy ministry said on its website the latter are expected by June 21 at the latest.
The official said after a Cabinet meeting no decision on a bailout has been taken.
Commenting on reports that eurozone finance ministers will hold a conference call on Saturday on Spain, Saenz de Santamaria said that no meeting was planned but would not confirm or deny whether some kind of contact would take place.
German Chancellor Angela Merkel meanwhile said Spain hasn't yet sought outside help to deal with the troubles of its banks and Berlin won't pressure it into doing so.
Merkel reiterated that all necessary institutions are ready if a country decides to seek assistance.
Economist Rafael Pampillon said that a bailout of the Spanish economy beyond its banking sector wouldn't necessarily spell disaster for the country.
"The rescue wouldn't mean only to be intervened," Pampillon said. "They would also refinance all our debt with a much lower interest than the one we are financing ourselves with in the international markets. To be rescued would not be a catastrophe," he added.
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