Spain says it'll ask for a bank bailout from the eurozone, becoming the fourth and largest country to seek help since the continent's debt crisis erupted.
Economy Minister Luis de Guindos says the aid will go to the banking sector only and thus doesn't come with new austerity conditions attached for the economy in general.
He's given no figure as to how much Spain will request, saying that he'll wait until independent audits of the country's banking sector have been carried out before asking for a specific amount.
A statement from European finance ministers released today says it still expects Spain's banking sector to implement reforms and Spain will be held to its previous commitments to reform its labour market and manage its deficit.
The exact figure of the bailout, however, hasn't yet been decided, but the statement said it could be 100 billion euros.