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.
Source: The Telegraph. Read full article. (link)