Video: IMF chief Christine Lagarde unveils plan to save euro The Spanish government will use these reports as the basis for its formal request for a bank bailout loan. Lagarde said "the IMF will be doing some monitoring of the implementation of the financial package, and while this is a bit uncharted territory, we shall do so independently, thoroughly and as quickly as is possible." Jean-Claude Juncker, the head of the eurogroup, said that Spain would make a formal request for financial assistance by next Monday.