Reuters – By Edward Krudy June 8, 2012
Spain is expected to request European aid for its ailing banks over the weekend to forestall worsening market turmoil, EU and German sources said. Investors are worried that developments may not be favorable for markets.
“The European banking system is undercapitalized, and the markets are waxing and waning based on enthusiasm for a plan to recapitalize them,” said Jack de Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire.
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