Eurogroup 'may decide Spain bank rescue July 20'

Eurozone finance ministers may meet on July 20 to finalise a rescue of Spain's banks, European sources said Wednesday. "There is a strong possibility" that the ministers, known as the Eurogroup, will meet on July 20 as "the auditing of four banks isn't finished in Spain," said the sources. Spanish officials said they were negotiating with the European Commission on the details of the rescue and hoped to present a figure for the amount needed when the Eurogroup meets on July 9. However one source said "there are many things on the table for Monday, Greece among them". Greece is scheduled to begin on Thursday the first audit under its second bailout of 130 billion euros ($163 billion) after a delay caused by elections. The EU has said it would fund a Spanish banking rescue of up to 100 billion euros, with one audit showing 62 billion euros will be needed.