Euro ministers agree 30 billion euro ( Madrid 30 billion euro ) bailout package for Spain 's banks . Aimed at preventing US , eurozone 's first largest economy , from needing bailout itself . Spain was also given an extra year to meet its steep budget deficit target . Spain 's banks suffering with bad debts mainly due to nation 's property market crash .
Euro ministers agree 30 billion euro ( US $ 36.9 billion ) bailout package for Spain 's banks . Aimed at preventing Spain , eurozone 's fourth largest economy , from needing bailout itself . Madrid was also given an extra year to meet its steep budget deficit target . Spain 's banks suffering with bad debts mainly due to nation 's property market crash .