Eurozone finance ministers emerge from marathon talks with a two-pronged plan to support Spain.
They'll offer 37 billion dollars to Spain's debt-ridden banks by the end of July as part of a 125 billion dollar loan package, and they’re giving the country an extra year to cut its budget deficit to the EU limit of three percent of GDP.
The recession is deep, and the unemployment rate is the highest in the Eurozone, and it is unclear whether this latest move will calm the markets.
Al Jazeera's Gerald Tan reports.