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Spain Officially Asks for Bailout

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  • Description

    FBN’s Ashley Webster on Spain officially asking for a bailout for its banking system.

  • Duration 1:11
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Our hopes that European leaders will heal the ailing eurozone at this week's summit -- you can hope all you want but.

Those hopes are rapidly fading Ashley Webster is in Madrid with the very latest -- On Monday Spanish government officially asking for a bailout for its banking system we don't know how much and apparently will be getting more of the details.

On July the ninth that did not exactly please the markets even though it was not unexpected.

Meantime the tiny nation of Cyprus a member of the eurozone officially.

Are asking for a bailout because of its extreme exposure to Greek banks also talking of -- the finance minister.

Resigning today because of ill health.

Meanwhile the Greek Prime Minister and taught -- -- -- Still just out of the hospital -- having surgery on his -- so.

Greece will not be represented at the big EU summit scheduled to begin on Thursday in Brussels.

That's where the main leaders will discuss a banking union a political union.

And perhaps a roadmap has been a long time coming but the leaders say this is a critical summit we've heard -- -- the full.

We'll have to wait and see.

Back to you.

Thank you very much --

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