The Spanish government is suspending foreclosures for the neediest homeowners just a week after a woman there committed suicide when officials arrived at her apartment to seize it.
Wounded banks in Spain will now be able to draw up to $125 billion in money from the EU. Spanish Prime Minister Mariano Rajoy credited government reforms with limiting the scope of the financial crisis to the banking system.
Spain raised $2.6 billion in a bond sale this morning, but the higher interest rate of 6.1 percent shows that investors are still concerned that Spain has not wiped their hands clean of the financial mess just yet.
Spain's Deputy Prime Minister, Soraya Saenz, will head to Washington to discuss ways to resolve the Spanish banking crisis with Treasury Secretary Tim Geithner.
Over 50 percent of a small village in northern Spain has voted in favor of a plan to allow marijuana to be grown there. The aim is to generate money for the village to help wipe out its debt. However it's still unclear if the idea will go ahead.
While the U.S. continues to see optimistic job gains, the situation in Europe is not looking so hopeful. The worst affected group by far are the young.
