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Spain Bank Bailout: There Is 'Talk' Spain Needs $100B Rescue Loans, According To Swedish PM

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Getty File

STOCKHOLM -- Sweden's prime minister says there is widespread European agreement that Spain needs to ask for outside help to try to prop up its ailing economy and that "there is talk" of a bailout package of up to (EURO)80 billion ($99.74 billion).

Fredrik Reinfeldt, whose country is not part of the eurozone, spoke with national broadcaster Swedish Radio ahead of an emergency conference call between European finance ministers Saturday.

He said the situation in the southern European country "is serious" and "that in reality we're talking about one of the greatest financial rescue operations the world has seen."

A report from the International Monetary Fund on Saturday estimated Spanish banks need a recapitalization injection of at least (EURO)40 billion ($50 billion), but Reinfeldt says "there's talk about up to (EURO)80 billion."

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