Eurozone finance ministers late on Monday evening (9 July) agreed the broad outline of a bank bailout for Spain, with €30 billion to be made available by the end of the month.
The "political understanding" is to be formally agreed by 20 July - after going through necessary parliamentary ratification - with Spain's banking sector to go through an "overhaul" in return.
"We are convinced this conditionality will succeed in addressing the remaining weakness in the Spanish banking sect...
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