Too much austerity too quickly 'makes it hard to pay off debts'

The US President says it's important not to "scold" Europe or tell European leaders what to do. Barack Obama says engaging in too much austerity too quickly can make it harder to pay off debts.

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Spain bank bailout agreed

A Eurogroup statement says it has agreed to lend up to 100 billion Euros to Spain, but Spain says it won't formally request the cash until it is clear exactly how much its struggling banks need.