Spain Accepts Debt Aid

BAILOUT

Updated Apr. 21, 2017 4:37PM EDT / Published Jun. 10, 2012 7:23AM EDT

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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Spain Accepts Debt Aid

Pablo Blazquez Dominguez / Getty Images