Prime Minister Mariano Rajoy said the country needs the money to save its banks.

For months the country has tried to avoid seeking outside help.

There are 17 countries that use the Euro as their currency. Spain is the fourth of these countries to request a bailout. In this case a bailout is when other countries lend a country money to help prop up its economy.

Because its economy is so large, the need for a bailout is troubling for the European union. For instance, the Spanish economy is five times larger than that of Greece (another country that is suffering from economic problems).

Usually countries’ economies affect each other. That’s because they buy and sell things from and to each other. So if one country’s economy isn’t doing well, it affects other countries.

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