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Madrid airport: Spain is the fourth eurozone country to receive financial assistance (Photo: Luc Mercelis)

Eurozone agrees up to €100bn bail-out for Spain's banks

Eurozone finance ministers on Saturday (9 June) agreed to disburse up to €100bn for Spain's troubled banks, but without an accompanying austerity programme as for Greece, Ireland and Portugal.

After a two-and-a-half hour conference call, ministers said in a press statement that "up to €100 billion" will be granted from the eurozone's bail-out funds "for recapitalisation of financial institutions."

The funds will be channelled directly to a state-run fund for bank rescues in Spain,...

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Madrid airport: Spain is the fourth eurozone country to receive financial assistance (Photo: Luc Mercelis)

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