Spain bailout risk receding, says report

THE risk of Spain having to follow Greece and Ireland in seeking a bailout from the IMF has fallen considerably, a new report says.

Compiled by Bank of America Merrill Lynch, it says that Spain and Portugal may escape the humiliation of having to be rescued by an EU/IMF deal.

Greece was granted a €110m deal back in May of 2010, while Ireland was rescued in November with an €85bn financial package that opposition parties have condemned as being a bad deal for Ireland.