Eurozone's finance ministers approved aid for Spanish banks

Eurozone's finance ministers finally approved 100 billion euros financial package for Spanish banking system. The loans for Spanish banks will be avaliable through the Spanish government's bank-rescue fund, with a medium maturity of 12.5 years. The bank rescue plan was approved soon after Spanish government agreed to cut is banking sector and to reduce public spending. The yields on Spain's 10-year bonds jumped to 7.23 per cent.