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released its banking audit as Spain contemplates making a formal bailout request to Europe to help recapitalize its fragile banking system.
suggested that her country would make no bailout request at least until after a banking audit expected Monday from the International Monetary Fund, as well as audits due June 21 from two independent consulting firms.
On Friday, Spain's deputy prime minister, Soraya Sáenz de Santamaría, suggested that her country would make no bailout request at least until after a banking audit expected Monday from the International Monetary Fund, as well as audits due June 21 from two independent consulting firms.
A banking audit that Mr. Rajoy commissioned is due out on Friday, which should help determine how much assistance Spanish banks may require, but Madrid has continued to wrangle with its euro zone partners over the exact conditions for the disbursement of the rescue money.
Officials from other euro zone economies are trying frantically to increase pressure on Madrid to seek outside help "pre-emptively," without waiting for those banking audit results, to remove one significant area of stress and uncertainty from the markets in case the Greek election "goes sideways," according to two people close to the talks who were not authorized to speak publicly.
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Until now, it's sat on its hands and argued that there is no case to answer over all those banking audits.
If there is no value to banking audits as they are now conducted, should we just throw in the towel or can something be done to improve the process?
Do corporations and banks audit themselves?
Calls from economists at Syriza to nationalise banks, audit Greece's international debt and place a moratorium on debt repayments have riled international markets.
John C. Liu, the New York City comptroller and overseer of five city pension funds, instigated the campaign to focus the banks' audit committees on mortgage problems.
The euro did trim losses versus the dollar after the news on the bank audit report, but the general stance on the common currency remained cautious.
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