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To: Haim R. Branisteanu who wrote (91291)6/9/2012 12:51:46 PM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 218008
 
Spain Seeks Preliminary Deal On Banking Bailout - Report
09-Jun-2012

MADRID--Spain's government is currently engaged in talks with European Union partners, seeking a preliminary deal on a bailout for the country's banking sector that may be closed as early as this weekend, newspaper ABC reports Saturday, not citing sources.

Spain has already secured commitments that the deal won't include a loss of sovereignty, or attached conditions on fiscal policy, budget deficit reduction or structural reforms, the newspaper adds.

The discussion is currently focused on the role of the International Monetary Fund, as Madrid wants to keep the IMF out of the bailout process to minimize the blow to Spain's image with its creditors, the newspaper says.

A spokesperson for Spain's prime minister office declined to comment on the report.

(END) Dow Jones Newswires