Spain will ask, and European finance ministers will agree, to offer up financial aid for the country's struggling banks.
Spanish and eurozone officials announced their intentions after a three-hour emergency conference call on Saturday. If they make good on it, Spain will be the fourth – and largest — member of the 17-nation eurozone to receive outside help as Europe's debt crisis marches on.
The crowd of job seekers at an unemployment office in downtown Madrid looks different than it did a few years ago.
When the housing market went bust, construction workers flooded the lobby. Now, labor reforms have made it easier for corporations to fire workers without seniority. So now young people, including those with an education, are unable to find work.
Jaime Garcia de Sola, a former intern at an investment bank, was one of those waiting in the unemployment line.
One day after seeing its sovereign debt downgraded to just above junk status, Spain is dealing with reports that it's about to ask the other eurozone nations for help in bailing out its beleaguered banks.