Spain - Massive Rescue Agreed at Euro 100 billion - $125 billion

The news coming out of Brussels this evening is that the EU has offered Spain a rescue package of Euro 100 billion.

Spain to Tighten Fiscal Screws

SINGAPORE—Spain's Finance Minister Luis de Guindos said Friday that his government would need to implement an additional €35 billion ($46.20 billion) of fiscal tightening this year and next to achieve its budget deficit goal.