Bank of Spain

Spain's government said Friday it will soon request a first payment for its deeply troubled banks from an emergency eurozone rescue line.

Spanish banks' net borrowing from the European Central Bank hit a record high of 375.5 billion euros in July, indicating ever-tighter financing conditions, official figures showed.

A US senator who heads his country's budget committee told Spain it was heading in the right direction in fixing its financial woes, but said more remains to be done.

Spain's downturn deepened in the second quarter, with the economy shrinking 0.4 percent after contracting 0.3 percent in the first three months of 2012, official data showed Monday.

Spain's jobless rate neared 25 percent in June, officials said Friday, darkening the recession outlook despite relief on financial markets at a vow of support by the European Central Bank.

Spain's unemployment rate rose in the second quarter to 24.63 percent and a huge 53 percent among the young, despite the start of the tourist season, official figures showed Friday.

Spain's unemployment rate rose in the second quarter to 24.63 percent without benefitting from the usual spike from tourism, the government said Friday.

The former chairman of bailed-out Spanish lender Bankia, Rodrigo Rato, on Thursday defended his handling of the group ahead of its near-collapse, insisting he acted with the authorities' backing.

Spain denied Monday that it needed a full international bailout as the economy shrank even faster and its long-term borrowing costs jumped to dangerous highs panicking world markets.

World stocks fell sharply, the euro hit a 12-year low against the yen and Spanish borrowing costs reached record highs Monday on speculation Spain could soon require a full state bailout.

Spain denied Monday that it needed a full international bailout as the economy shrank even faster and its long-term borrowing costs jumped to dangerous highs sending world markets into a nosedive.

Spain sank deeper into the mire on Monday as figures showed the economy shrinking even faster and its long-term borrowing costs jumped to danger zone highs.

Spain's economic slump deepened in the second quarter of 2012 as consumers cut back spending, the Bank of Spain said Monday.

The ratio of bad loans held by Spanish banks hit a fresh 18-year high in May, figures showed Wednesday, as the eurozone readied a potentially painful bailout for its struggling lenders.

Tension over Spain's finances eased Tuesday as its borrowing rates fell after its latest tough deficit-cutting measures, with the markets looking ahead to a decisive eurozone call on rescuing its banks.

Market jitters over Italy eased on Friday after a successful bond auction despite a ratings downgrade by Moody's, which warned that short-term economic prospects were worse and political risk had increased.

Spain's battered banks, struggling to raise money as they await a vast eurozone rescue, pushed borrowing from the European Central Bank (ECB) to a record high in June, data showed Friday.

European Central Bank loans to Spain's battered banks shot up 17.2 percent to a record 337.2 billion euros ($411 billion) in June, the Bank of Spain said Friday.

Germany's Angela Merkel held last-minute talks Wednesday with French President Francois Hollande before a crucial EU summit but warned she would not budge in her opposition to pooling eurozone debt.

Germany's Angela Merkel held last-minute talks Wednesday with French President Francois Hollande before a crucial EU summit but warned she would not budge in her opposition to pooling eurozone debt.