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Spanish Regions Line Up for Aid

Requests for emergency loans adds to pressure on Prime Minister Rajoy.

By Angeline Benoit, Bloomberg | Updated on August 30, 2012

The Spanish region of Murcia became the third to say it will need emergency loans, and Valencia signaled it needs funds to cover current and past overspending, adding fiscal pressure on Prime Minister Mariano Rajoy.

A day after Catalonia said it needed 5 billion euros ($6.3 billion) from an 18 billion-euro bailout fund announced by Rajoy last month, an official in southeastern Murcia yesterday put its needs at 700 million euros. In Valencia, an official who asked not to be named in line with policy confirmed remarks by economy chief Maximo Buch to Europa Press that 3.5 billion euros would cover only current needs.

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