Spain poised to get up to €100 billion for bank bailout
A European bailout of up to €100bn for Spain's ailing banks was being put together on Saturday as the country joins Greece, Ireland and Portugal in bowing to the need for outside aid to survive Europe's long-running debt crisis.
European leaders hope a bailout of Spain's troubled savings banks will prevent a wider deterioration of the eurozone's fourth largest economy, which is paying punishing interest rates on borrowed money and is key to the survival of the single currency. (AFP)
