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Reform will allow the government to handle the country's toxic property investments and give the central bank more powers to shut down troubled lenders
Government has been deliberating for weeks on how to save some $14.4 billion in 2013 and 2014
Spain's regions have a combined debt of 145 billion euro and some 36 billion euro must be refinanced this year
It's seen as another sign that Europe's largest economy faces trouble from the eurozone debt crisis
Greek Prime Minister Antonis Samaras meets German Chancellor Angela Merkel to discuss easing his country's bailout terms
Spain must create the "bad bank" as a condition for accessing a loan of up to $125.5 billion to fix its troubled banks
In Germany, there is plenty of concern that if Greece defaults on their debt, it's can take even Europe's biggest economy down with it, reports Mark Phillips.
Spain has become the fourth European country to ask euro zone finance ministers to bail out the country's troubled banks, and as Charlie D'Agata reports, the decision was a difficult but necessary one.
Britian's Chancellor of the Exchequer George Osborne tells Scott Pelley that Spain and Greece will experience a "moment of reckoning" in dealing with their financial crises over the summer.
There are widespread fears that if Alexis Tsipras of the leftist Syriza Party is elected to be the next prime minister of Greece, it will be economic suicide. Experts predict a run on the banks and a possible exit from the Euro zone. Clarissa Ward reports.
Treasury Secretary Timothy Geithner said he was "encouraged" by talks at the G-20 summit in Mexico on Tuesday with European leaders on how to solve their debt crisis.
Clarissa Ward helps explain just what's going on in the eurzone - and what it means for the U.S.
Fitch says that a rescue deal for financially struggling nations would not prompt negative credit action
Country's banks are sitting on an estimated 176B euro in bad real estate loans and other investments following the collapse of the real estate market in 2008
Greek Prime Minister Antonis Samaras is seeking to earn his nation more time to complete reforms and hold on to bailout loans
Spain is reeling from the collapse of a property boom that forced it to request up to 100 billion euro in financial aid for its banks
Adding to signs of a global slowdown in growth, Japan posted a $6.5B trade deficit in July, compared with a surplus the year before
PM again rejects view that Greece should leave euro, but Germany's patience thin; Analyst says it's time to drop charade
Investors are increasingly convinced that the ECB will buy some eurozone countries' government bonds to help reduce their borrowing costs
Greek officials try to hammer out austerity measures required to guarantee European financial aid
German chancellor is reiterating her call for fiscal discipline in Europe by praising Canada for not "living on borrowed money"
The EU's statistics agency revealed the economies of both the eurozone and the wider 27-country European Union shrank by a quarterly rate of 0.2 percent
Debt-crippled Greece has been in recession for five years, and the cumulative shrinkage is expected to reach 20 percent at the end of this year
Investors are fretting over whether Spain will be able to repay its loans, and the country could end up being shut out of vital international debt markets
Unemployment rate is up from 16.8 percent a year earlier; 54.9 percent of people under 25 are out of work
