Spanish Bank Bailout Request Welcomed -- BBCSpain's decision to request a loan of up to 100bn euros ($125bn; £80bn) from eurozone funds to help shore up its struggling banks has won broad support.
The International Monetary Fund (IMF) said the bailout was big enough to restore credibility to Spain's banks.
Washington welcomed the measure as a vital step towards the "financial union" of the eurozone.
The move was agreed during emergency talks between eurozone finance ministers on Saturday.
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Update: Eurozone agrees to lend Spain up to 100 billion euros -- Reuters
My Comment: This is just plugging the leak of a dam that is about to burst. Bottom line .... the Socialist who ruled Spain for almost a decade borrowed like 'drunken sailors' resulting in a situation where Spain owes hundreds of billions of dollars. Couple this with a work force and economy suffering under depression conditions, it is easy for me to predict that this bailout will probably be followed by another bailout at the end of the year.
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