Spain's Credit Crunch Euro Group Considers Direct Aid for Banks

The banking crisis in Spain has countries across Europe in a deep state of worry. A German newspaper is now reporting that the European Central Bank and a number of euro-zone countries would like to change the euro bailout fund in order to permit it to lend money directly to financial institutions in the throes of the crisis. Germany, however, is strictly opposed to the idea.
Spain's banks are currently experiecing a credit crunch that is exacerbating the country's economic problems.

Spain's banks are currently experiecing a credit crunch that is exacerbating the country's economic problems.

Foto: Jasper Juinen/ Getty Images
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