Spain has approved major reforms to its banking sector, which has been saddled with bad loans.<br /><br />It has ordered banks to set aside billions of dollars as insurance against risky investments.<br /><br />Spain's banks were hit by billions of euros of losses after a decade-long property bubble burst in 2008.<br /><br />The decision comes amid latest prediction from the EU which says Spain is going to stay in recession for some time to come.<br /><br />Al Jazeera's Sonia Gallego reports from Madrid.
