Mish/ Mike Shedlock – Spain Blinks: Accepts €100 Billion Baillout Vi EFSF/ESM; Frob To Receive The Money – 10 June 2012

After months of denials, a short Eurogroup Statement shows Spain will submit a formal request to Brussels for a bailout.  Here is the statement in full.

The Eurogroup supports the efforts of the Spanish authorities to resolutely address the restructuring of its financial sector and it welcomes their intention to seek financial assistance from euro area Member States to this effect.