Spain is to be given a first instalment of its eurozone bank bailout worth 30 billion euros (37 billion dollars) by the end of the month, Eurogroup President Jean-Claude Juncker said early Tuesday, dpa reported.
Conditions attached to the eurozone aid package, worth up to 100 billion euros in total, would be finally approved "in the second half of July," Juncker said.
The Eurogroup panel of eurozone finance ministers also agreed to give Spain one extra year - until 2014 - to reach a European Union target of reducing its deficit to 3 per cent of its gross domestic product, the Luxembourg premier said.