Spanish banks to get rescue funds

Spain is to get up to 100bn euros ($125bn; £80bn) in loans from eurozone funds to try to help shore up its struggling banks.

The move was agreed at an emergency meeting of eurozone finance ministers after a conference call on Saturday.

Spain's Economy Minister Luis de Guindos said his country would shortly make a formal request for assistance.

He emphasised that the help would be for the financial system, not the economy as a whole.