June 11, 2012
Updated Jun 11, 2012 at 1:13 PM EDT
Spain (Indiana’s NewsCenter) - European stocks gained sharply at the open Monday as investors welcomed news that Spain has secured a bailout for its banks.
Over the weekend, eurozone ministers agreed to lend Spain $125 billion, making it the fourth and the largest eurozone economy to be rescued by its partners.
If Europe hits a financial crisis where banks across the board go bankrupt on debt, another financial crisis that's global in nature could occur.
Europe’s recession is also a major drag on American exporters.
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