Reuters: US Dollar Report: Eurogroup to discuss Cyprus, Spain in call on Wed-officials

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Eurogroup to discuss Cyprus, Spain in call on Wed-officials Jun 26th 2012, 16:19 BRUSSELS, June 26 | Tue Jun 26, 2012 12:19pm EDT BRUSSELS, June 26 (Reuters) - Euro zone finance ministers will hold a teleconference on Wednesday to discuss a request for emergency lending from Cyprus and the details of a similar request from Spain, euro zone officials said on Tuesday. Cyprus might need up to 10 billion euros from euro zone governments to finance its budget needs and to recapitalise its banks, which have been hit hard by Greece's debt restructuring. Jean-Claude Juncker - the president of Eurogroup, as the euro zone finance ministers are known - said last Thursday that the ministers would discuss in coming weeks whether euro zone loans to Madrid would be senior to other Spanish debt. While Juncker downplayed the importance of the status of the loans, markets have been selling Spanish bonds on concern that they would be paid after the euro zone governments in case of a Spanish default.

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