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Spain's eurozone bailout finalised

2012-07-10 3 Dailymotion

Eurozone finance ministers emerge from marathon talks with a two-pronged plan to support Spain.<br />They'll offer 37 billion dollars to Spain's debt-ridden banks by the end of July as part of a 125 billion dollar loan package, and they’re giving the country an extra year to cut its budget deficit to the EU limit of three percent of GDP.<br />The recession is deep, and the unemployment rate is the highest in the Eurozone, and it is unclear whether this latest move will calm the markets. <br />Al Jazeera's Gerald Tan reports.

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