Spanish prime minister hails £80bn IMF bailout as a ‘victory for the euro’… But admits economic misery will get worse Decision taken following discussion about eurozone’s struggling economy Spanish minister said aid will not come with austerity conditions attached Move comes a day after Spain’s credit rating was downgraded David Cameron has said UK will not contribute funds to eurozone bailouts Euro falls and forecasters say it could hit seven-year lows by September Cost of bailout is equivalent to £81billion or $125billion By Daily Mail Reporter Published: 09:07 GMT, 9 June 2012 | Updated: 15:47 GMT, 11 June 2012 502 View Spain’s deep economic misery will get worse this year despite the country’s request for a European financial lifeline of up to 100billion euro (£81billion) to save its banks, Prime Minister Mariano Rajoy said Sunday. Spain will stay stuck in its second recession in three years, and more Spaniards will lose their jobs in a country where one out of every four are already unemployed, Mr Rajoy said today. He spoke a day after the country became the fourth – and largest – of the 17 countries that use the common currency to request a bailout. A woman at a… Read full this story
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