IMF : Spain takes a minimum of 37 billion euro bailout

NEW YORK . Spanish banking system is estimated to need additional capital worth 37 billion euros ( U.S. $ 46 billion ) to cope with worsening economic conditions .

" The stress test showed , despite a well-managed financial system , but still vulnerable " said the International Monetary Fund ( IMF ) said in a report evaluating the stability of the Spanish financial system that was released yesterday ( 8/6 ) .

IMF calls , while the largest bank capitalization is pretty good , there is a group of banks that the level of vulnerability is very vulnerable , and most do not receive public support .

A German official European Union as well as staff who declined to be identified said , Europe Spain may seek help as soon as possible at a meeting of eurozone finance ministers today . If Spain be received bailout , this country means to be a fourth of the 17 euro countries are getting a bailout , after Greece , Ireland and Portugal .

The IMF also mentioned , if include other costs that have not been identified , then the Spanish capital requirements for banks will be greater than 37 billion euros . " Some of the additional costs for insurance losses may not be known in advance , and therefore not likely to be included in the stress test , " the IMF wrote in a report.

" Banking in Europe at the center of our concerns today, and naturally should be a priority for repair , " said IMF Managing Director Christine Lagarde in a speech in New York , yesterday .

Meanwhile , on 7 June, Spanish Prime Minister Mariano Rajoy said the IMF report and will wait for the results of two research consultants before determining how to finance the recapitalization of the banking system . The results of this study will be completed by June 21 next .(Kontan.co.id)