Spain Might Ask for European Union's Help.

Brussels – Spain have not yet asked for financial help for its banking sectors but a decision on the issue could be decided in a conference for euro zone finance ministers on Saturday.

Several EU sources have hinted the Reuters on Friday that Madrid was expected to ask the currency block for help with recapitalizing it banks this weekend, and that will make Spain the fourth country in the euro zone's to ask for a bailout since the Europe's debt crisis began.

Meanwhile, German central bank chief, Jen Weidmann has also said that Spain should use the instruments which have been created for them, Spain only need to ask and the help will keep coming

The euro zone finance ministers are yet to finish their 14:00 GMT meeting, in a hope to finalized the issue concerning Spain and other issues; Hope Spain will decide their faith at the end of the whole deliberations.

Updates:-

Spanish Economy Minister, Luis de Guindos has voice out on Saturday after the Euro zone finance minister meeting.

De Guindos said in a news conference that it was not yet clear which European bailout structure his country would used, whether the European Financial Stability or the European Stability Mechanism.

He also added that the aid will go to the banking sectors only and thus does not come with new austerity conditions attached for the economy in general.