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| Version 0 | Version 1 |
|---|---|
| Spain bond sale to test market confidence | Spain bond sale to test market confidence |
| (about 9 hours later) | |
| Spain will try to raise money on credit markets on Thursday days after it said it was all but blocked from them. | Spain will try to raise money on credit markets on Thursday days after it said it was all but blocked from them. |
| The planned move - a test of market confidence in its ability to pay - comes amid reports Spain has been seeking a bailout from eurozone funds. | The planned move - a test of market confidence in its ability to pay - comes amid reports Spain has been seeking a bailout from eurozone funds. |
| Meanwhile European authorities are said to be working on a way to help Spain's troubled banking sector. | |
| UK Chancellor George Osborne said: "I know they are working very hard on an imminent solution." | |
| He told the BBC: "I am optimistic that people are working hard on a solution, and a solution, I think, is coming." | |
| Spain's economy minister on Wednesday dampened speculation of a bailout. | Spain's economy minister on Wednesday dampened speculation of a bailout. |
| The US president spoke separately on Wednesday to German Chancellor Angela Merkel and Italian PM Mario Monti to discuss economic conditions in Europe. | The US president spoke separately on Wednesday to German Chancellor Angela Merkel and Italian PM Mario Monti to discuss economic conditions in Europe. |
| Barack Obama also called jointly with UK Prime Minister David Cameron for an "immediate plan" to restore confidence. | Barack Obama also called jointly with UK Prime Minister David Cameron for an "immediate plan" to restore confidence. |
| The prime minister is due to meet Mrs Merkel on Thursday to discuss the issues. | The prime minister is due to meet Mrs Merkel on Thursday to discuss the issues. |
| Spain will try to raise $2bn (£1.3bn, 1.6bn euros) in bonds in a test of market confidence in its ability to pay. | Spain will try to raise $2bn (£1.3bn, 1.6bn euros) in bonds in a test of market confidence in its ability to pay. |
| On Wednesday there were signs that investors were slightly more hopeful with the premium investors demanded above German bonds falling below 5 percentage points for the first time in a week. | On Wednesday there were signs that investors were slightly more hopeful with the premium investors demanded above German bonds falling below 5 percentage points for the first time in a week. |
| Spain's finance minister said on Tuesday that the credit markets were "effectively shut" to his country, inflaming worries that it will not be able to avoid seeking outside help. | Spain's finance minister said on Tuesday that the credit markets were "effectively shut" to his country, inflaming worries that it will not be able to avoid seeking outside help. |
| Spain has to find at least 80bn euros to strengthen its banks, which are struggling because of bad property loans. | Spain has to find at least 80bn euros to strengthen its banks, which are struggling because of bad property loans. |