Eurozone Live Blog
Swedish PM says Spain needs US $100bn in rescue loans. Read more...
Sweden's prime minister Fredrik Reinfeldt 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 80 billion euros (US $100bn). 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 on 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 recapitalisation injection of at least 40 billion euros (US $50bn), but Reinfeldt says "there's talk about up to 80 billion euros".