Sunday, June 10, 2012

Spain gets a $ 125 bn bailout for its banks

Spain Seeks EU’s Fourth Bailout With $125 Billion Request

Spain became the fourth euro member to seek a bailout since the start of the region’s debt crisis more than two years ago with a request for as much as 100 billion euros ($125 billion) to rescue its banks.
Comment: I don't know if this finally calms down the markets which have been all to eager to go against the euro whatever it costs. Yet as I said two years ago when the Greek drama began, governments have bigger pockets than we have. And as to the so-called "euro crisis" they are determined to use them.

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