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FBN’s Ashley Webster on efforts to resolve Spain’s debt crisis and its negative impact on the overall economy in Europe.
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So Spain is teetering on the brink of a bailout box businesses Ashley Webster has been on the ground in Madrid covering this situation out there for us.
Well Melissa earlier today those Spanish finance minister said that they would put NA requests for the bailout money for the banking system here some time on Monday.
That -- announcement coming today when we had all sorts of news we had a mini summit in Rome with the leaders of Germany.
France Spain and Italy getting together trying to get on the same page with regard to how to solve.
The -- prices and in particular.
How to restore confidence to the market right now Spanish banks having a hard time borrowing money in the Interbank -- lending market.
The countries themselves paying a pretty penny to borrow money it is putting tremendous stress on the Euro -- The leaders of the four largest economies trying to come up with ways that are acceptable -- of course has resisted using the bailout fund for instance.
In order to buying sovereign debt that will be a big issue although this will be discussed at the end of next week.
When Euro zone finance ministers and the leaders get together in Brussels to try and at least put together a blueprint a roadmap of where the Euro -- should be.
And I think we're gonna hear a lot of talk about political.
And fiscal year he had some leaders in this -- the Euro zone -- region saying it is the only way.
For the Euro to survive in fact those summit in Brussels as being cold.
The summit to save the Euro we shall see listen back to you -- Fox Business is actually Webster Madrid thank you so my.
