''The conservative Spanish government of Mariano Rajoy expects to take direct financial control of at least one of the country's ailing regional governments by May, according to sources in Madrid.
With some regional debt already downgraded to junk, senior officials said it would be the regional governments themselves that came to Madrid to beg for help to get through the year.
"It wouldn't be surprising if this happened in May," said a high-ranking official. "Some are paying interest rates that are impossible."
International lenders are expected to welcome the plans after a series of warnings about the deteriorating state of the Spanish economy..''
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