Pressure Builds on Merkel as Spain Calls for Bank Aid
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Chancellor Angela Merkel’s spokesman said that Spain knows where to look for aid if it’s needed, giving no ground to Prime Minister Mariano Rajoy’s pleas that Germany consider new ideas to resolve the debt crisis.
As markets brace for further deterioration in Spain’s finance sector and a possible Greek departure from the 17-member euro area, the Canadian government said that finance ministers and central bank governors from the Group of Seven countries will hold a conference call tomorrow to discuss the European debt crisis.