Spain may miss 2012 budget deficit goal: Bank of Spain

MADRID: The Bank of Spain warned on Wednesday that the recession-hit country could miss its budget deficit target for 2012 given the 'very unfavourable' economic context, one year after it overshot its 2011 target.

Spanish bank bailout moves forward

NEW YORK (CNNMoney) -- Eurozone finance ministers on Friday approved the terms of a bailout for Spanish banks and agreed to set aside €30 billion in emergency funds.

Spain formally asks for bank aid

NEW YORK (CNNMoney) -- The Spanish government made a formal request to the Eurogroup on Monday for loans to bailout its troubled banking sector.

European Warning Over Spanish Deficit

BRUSSELS — As the Spanish government took further measures Friday to shore up the country’s banking sector, the European Commission injected a new dose of gloom by warning that Madrid was likely to miss its deficit-reduction targets for this year and next by wide margins.