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Spain Wielded Threat of Full Bailout in EU Talks, Mundo Says

Spanish Economy Minister Luis De Guindos warned euro-area finance ministers during talks on June 9 that a full bailout of Spain would cost 500 billion euros ($632 billion) and force a bailout for Italy, El Mundo reported, citing an unidentified person present at the talks.

“If you want to force a bailout for Spain start preparing 500 billion euros and another 700 billion euros for Italy which will have to be bailed out after us,” De Guindos was cited as saying to the Eurogroup during a conference call on Saturday.

A spokesman for the economy ministry wasn’t immediately available for comment.

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

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