Luis de Guindos
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Spanish banks to get up to 100bn euros in rescue loans

Spain is to get up to 100bn euros ($125bn; £80bn) in loans from eurozone funds to try to help shore up its struggling banks.

The move was agreed during emergency talks with eurozone finance ministers.

Spain's Economy Minister Luis de Guindos said his country would shortly make a formal request for assistance.

He emphasised that the help would be for the financial system, not the economy as a whole. "This is not a rescue," he said.

Gavin Hewitt reports.

  • 09 Jun 2012