Spain Accepts Debt Aid

    MADRID, SPAIN - JUNE 09:  Spanish Economy Minister Luis de Guindos stands during a news conference on June 9, 2012, in Madrid, Spain. Spain will request European financial support for its distressed banks on June 9 after emergency talks with eurozone ministers.  (Photo by Pablo Blazquez Dominguez/Getty Images)

    Pablo Blazquez Dominguez / Getty Images

    Spain has agreed to accept aid that may total as much as $125 billion as it scrambles to stabilize its banks. On Saturday, the country became the fourth euro-zone nation to ask for a bailout as the 17 nations that share the common currency continue to fight off spreading debt. Politicians and finance ministers in Europe and America have urged Spain to accept a bailout package in recent weeks, hoping to bring some calm to the continent before Greek elections are held later this month, with President Obama urging quick action in a speech Friday. Spain is the largest country to request a bailout to date.

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