German Chancellor Angela Merkel talks with European Central Bank President Mario Draghi (left) and Italian Prime Minister Mario Monti (right) during the summit of European leaders in Brussels.
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"The Spanish government states its intention to request European financing for the recapitalization of banks that need it," Spanish Economy Minister Luis de Guindos said at a press conference on Saturday.
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This photo dated October 24th, 1929, shows a view of people rushing to a saving bank in Millbury, Massachusetts as the stock market on Wall Street crashed, sparking a run on banks that spread across the country.
The Spanish bank Bankia in Madrid has asked the government to inject $24 billion. The European Commission is proposing a "banking union" to help eurozone governments rescue banks.
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