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Europe bailout of Spain could cost $125 billion

MADRID — Spain became the fourth and largest country Saturday to ask Europe to rescue its failing banks, a bailout of up to €100 billion ($125 billion) that leaders hoped would stabilize a financial crisis that threatens to break apart the 17-country eurozone.

The rescue offer follows growing pressure from international investors and the Obama administration and comes a week before elections in Greece, whose voters could decide whether the country leaves the euro.

AP Photo/Andres Kudacki

Spain's Economy Minister Luis de Guindos gestures during a news conference at the Ministry of Economy and C...

 

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