MADRID - Spain announced a massive 200 billion euros ($220 billion) package to help companies and protect workers and other vulnerable groups affected by the spiralling coronavirus crisis.

Police carried out checks at borders with France and Portugal, turning back foreigners attempting to enter Spain as part of strict measures to stem the spread of the coronavirus in Europe's second worst-hit country.

Half of the assistance measures, which are worth 20% of Spain's economic output, are state-backed credit guarantees for companies, and the rest includes loans and aid for vulnerable people.

Spanish stocks rose by more than 6% after the announcement.

Reuters