Spain formally requests a bailout for its banks

Spain has formally requested a bailout loan for its banking sector from its eurozone partners.

The loan is for up to 100bn euros ($125bn; £80bn).

No specific figures were given for the emergency loans, although independent audits last week said that the banks would need up to 62bn euros to stabilise themselves.

But Spain's economy ministry said that the audits, and a report from the IMF, should be a starting point.

Source & Image : BBC