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Europe Seeks to Contain Spanish Troubles

Finance ministers meet in Luxembourg to discuss Spanish overhaul and closer banking cooperation.

By Patrick Donahue, Bloomberg | Updated on October 08, 2012

European officials will move to prevent Spain from triggering a new round of convulsions as policy makers begin preparing for a summit next week aimed at easing the region’s three-year-old debt crisis.

European finance ministers meet in Luxembourg today to discuss Spain’s overhaul effort and closer banking cooperation. With European Union deficit enforcer Olli Rehn also saying the ministers may issue a statement lauding Greece on its budget measures, German Chancellor Angela Merkel tomorrow makes her first visit to the country since the turmoil began in 2009.

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