Eurozone ready to offer Spain 30 billion euros

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.