Europe Ministers Suggest Spain Asks for IMF Credit, Mundo Says
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A group of European Finance Ministers suggested that Spain ask for a so-called Flexible Credit Line from the International Monetary Fund, newspaper El Mundo reported, without saying how it got the information.
The proposal was privately suggested by ministers from countries including the Netherlands during a meeting of European Finance Ministers on Dec. 6, the Madrid-based newspaper said. The FCL, as the line is known, is a preventive mechanism created to provide countries with short-term financing when financial markets are under pressure, the newspaper said.