Spain's banks 'need 59.3bn euros of eurozone loans'

Spain's banks will need an injection of 59.3bn euros ($76.3bn; £47.3bn) to survive a serious downturn, an independent audit has calculated.

The amount is broadly in line with market expectations of 60bn euros, and follows so-called stress tests of 14 Spanish lenders.

Much of the money is expected to come from the eurozone rescue funds, the current EFSF and the future ESM.

[link to www.bbc.co.uk]