The rescue for Spain's banks was portrayed by Spanish and European officials as a bid to contain Europe's widening recession and financial crisis that have hurt companies and investors around the world. Providing a financial lifeline to Spanish banks was designed to relieve anxiety on the economy.Finance ministers of the 17 nations that use the euro said Saturday they would make the loan of up to â¿¬100 billion available to the Spanish government to prop up banks laden with non-performing loans and other toxic assets after the collapse of a real estate bubble.
Spain Bank Rescue Glee Morphs Into Markets Rout
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