Euro zone finance ministers have agreed to lend Spain up to 100 billion euros ($162 billion) to save its stricken banks and try to avert a broader financial catastrophe.
Fellow finance ministers in the 17-nation euro zone accepted a plea from Spain in a statement released after a conference call lasting around two and a half hours.
The Eurogroup and Madrid said the amount of the bailout would be sufficiently large to banish any doubts.
For more: Euro zone agrees to lend Spain up to $162b | BUSINESS News
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