Valencia signals need for bailout

Published on 21/07/2012 00:00

Spain’s heavily indebted Valencia region said yesterday that it would need help from Madrid, unsettling financial markets and complicating national efforts to stave off a full-blown sovereign bailout.

Prime minister Mariano Rajoy’s government also cut its economic forecast for 2013, indicating Spain would stay in recession well into next year.

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Valencia signals need for bailout

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