Spain Requests 39.5 Billion Euro Bailout

Eurozone finance ministers will be discussing Spain's bank bailout this afternoon in Brussels, and formally approving the payment. The country requested €39.5bn today to prop-up its struggling banking sector.

The majority of that—€37bn—will go to the four big banks, while €2.5bn will be dropped into the "bad bank" which is soaking up much of the country's toxic property assets.

#EuroCrisis #Spain #Bailouts