Luxembourg's Finance Minister Luc Frieden (L) speaks with Luxembourg Prime Minister and Eurogroup president Jean-Claude Juncker before an Eurozone meeting at the European Union Headquarters in Brussels on July 9, 2012. Spain was back in the firing line on the markets today as eurozone finance ministers met to follow up on "breakthrough" measures agreed at a summit last month to tackle the debt crisis. AFP/ GEORGES GOBET
BRUSSELS—The eurozone was ready to offer Spain an initial 30 billion euros to help its distressed banks, Jean-Claude Juncker, the head of the eurozone finance ministers group said on Tuesday.
Juncker said after nine hours of talks on Monday lasting well after midnight that the 17 ministers had reached a memorandum of understanding on Spain to be formally signed “in the second half of July”, with 30 billion euros ($37 billion) to be injected at the end of the month.