EU Urges Spain to Accept Bailout Is Unavoidable, El Pais Reports

The European Union is urging Spain to accept that it must seek an international bailout, El Pais reported, citing officials in Brussels without naming them.

Spain will need a bailout because investors won’t lend the government the money required to recapitalize the banking system, the newspaper cited one official as saying.

To contact the reporter on this story: Ben Sills in Madrid at bsills@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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