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               EU Agrees to $37 Billion Bailout for Spanish Banks

   by VOA News

   Eurozone finance ministers have agreed to a $37 billion bailout for
   Spain's ailing banks.
   Eurogroup President Jean-Claude Juncker said Tuesday the money should
   be available by the end of the month pending final approval of the
   deal.
   Spain has asked for $125 billion in aid as its borrowing costs have
   soared.  Officials said Tuesday the total amount of the bailout could
   reach that level, but that the loan agreement requires Spain to
   implement banking sector reforms.
   The ministers also agreed to give Spain an extra year - until 2014 - to
   cut its budget deficit to the European Union limit of 3 percent.
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   [1]http://www.voanews.com/content/eu-agrees-to-bail-out-for-spanish-ban
   ks/1381807.html

References

   1. http://www.voanews.com/content/eu-agrees-to-bail-out-for-spanish-banks/1381807.html