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Jean-Claude Juncker - to remain as eurogroup chief for another six months (Photo: consilium.europa.eu)

Euro-ministers agree outline for Spanish bank bailout

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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Jean-Claude Juncker - to remain as eurogroup chief for another six months (Photo: consilium.europa.eu)

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