Here was the front page of El Mundo, Spain's popular daily paper:
"Rescue Without Humiliation"
And here were the (non) humiliating terms, from Reuters:
Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.
After a 2 1/2-hour conference call of the 17 finance ministers, which several sources described as heated, the Eurogroup and Madrid said the amount of the bailout would be sufficiently large to banish any doubts.
It turns out that for a huge bailout, the terms were pretty good:
Conditions in the plan did not appear to add to the austerity measures and structural economic reforms which Rajoy's government has already put in place.
"Since the funds being asked for are to attend to financial sector needs, the conditionality, as agreed in the Eurogroup meeting, will be specifically for the financial sector," de Guindos said.
EU and German officials have cited national pride in the euro zone's fourth largest economy as a barrier to requesting a full assistance program.
National pride. A nice thing, that. Hope you can eat it, or pay your bills with it.