Eurozone ministers to discuss Spain bailout

Finance ministers from the 17 countries that use the euro will discuss a potential rescue for Spain today, a eurozone official said, as pressure grows on Madrid to sort out its troubled banks even if it means seeking a European bailout.

The latest report, from the International Monetary Fund, estimated that Spain needs at least a €40bn capital injection following a stress test it performed on the country’s financial sector. That report came out early today, three days ahead of schedule, underscoring the urgency of the situation.