Merkel Proposed Spain Bailout Twice to Zapatero, Mundo Says

German Chancellor Angela Merkel recommended that Spain receive a bailout twice to the country’s former Prime Minister Jose Luis Rodriguez Zapatero, El Mundo reported, citing unidentified people close to Zapatero.

The first proposal, considered by Merkel as “the best solution for Spain,” was made in May 2010 after Greece received 110 billion euros ($136.5 billion) in aid, and was suggested again last year, the newspaper said.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.