The front page of FT Deutschland carries the headline: “the EU is getting ready for a Spanish bankruptcy”. According to information obtained by the newspaper, eurozone member states are calculating the cost of emergency aid to Spain if problems in the country’s banking sector escalate. European Council President Herman Van Rompuy has also fuelled speculation that the cost of eurozone bailouts may rise further, saying yesterday that one could “of course imagine it exceeding the €750 billion” already outlined. City AM notes that business confidence continues to be hit by eurozone fears.
Source: Open Europe