Fellow euro nations are expected to demand that Spain carries out reforms in its financial sector in exchange for a rescue of its stricken lenders.
The euro zone's senior finance minister urged a rapid resolution of Spain's debt crisis on Saturday before a meeting where he will lead discussions on a bailout of the country's teetering banks.
Juncker's spokesman said the finance ministers would hold a conference call at 4 p.m. Brussels time (1400 GMT).
Asked if he expected Spain to request help, Swedish Prime Minister Fredrik Reinfeldt told public service radio: "I think that is everybody's assessment. There is even talk about amounts up to 80 billion euros."
It is not clear whether bailout numbers will be finalised on Saturday but the International Monetary Fund gave a clear guide to what it thought was needed, saying that under a stress scenario a number of Spanish banks would need to increase capital by 40 billion euros ($50 billion) in total. It advised seeking significantly more than that.
The Swedish prime minister signalled the package would be in that region. "There was a question of more than €80bn," Fredrik Reinfeldt said in a radio interview. "It is in fact a question of one of the biggest financial rescues in recent history."
Spain has come under pressure from the European Central Bank, Germany and Netherlands to move before Greek elections on 17 June, amid fears that political chaos in Greece and the weakness of Spanish banks could threaten the euro's financial stability.
EU ministers set to discuss potential rescue of Spain
Finance ministers from the 17 countries that use the euro were to discuss a potential rescue for Spain yesterday, a eurozone official said, as pressure grows on Madrid to sort out its troubled banks even if it means seeking a European bailout.
Read more.
Euro zone finance ministers will support Spain banking sector
Euro-zone finance ministers will discuss a commitment to provide as much as €100 billion ($125 billion) in support for Spain's ailing banking sector on Saturday afternoon, an official from a euro-zone country said, as the currency union hustles to contain its worsening financial crisis. Read more.
German bank chief Jens Weidmann urges Spain to seek bailout
THE head of Germany's central bank, Jens Weidmann, is pressing Spain to seek a bailout for troubled banks from the eurozone's current rescue fund, the EFSF. "If Spain feels overwhelmed by its financial needs, it should use the instruments which have been created for that," Weidmann said in an interview to appear tomorrow in the weekly Welt am Sonntag. Read more.
Spain expected to ask for bank bailout this weekend, EU ministers discuss possible request.
Spain could ask for a rescue of its struggling banks this weekend when European finance ministers hold an emergency conference call Saturday to discuss the country's financial problems, a move that would make it the fourth member of the 17-nation eurozone to seek outside help since the continent's debt crisis erupted two years ago. Read more.
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