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Papers
- -Spain Agrees To Be Assisted (Time.com)
"Knowing how bailouts doomed the governments of other countries, Spain insists it has accepted a massive 'loan' to recapitalize its banks. Others, however, are calling it as they see it." 06-12
- -Spain No Longer in Denial? (PBS.org)
"As Spain secured up to $125 billion from the eurozone to bolster its ailing banks, early optimism was overshadowed by worries that the amount might not be enough."
"All of this stems from the collapse of the real estate bubble in Spain and the banks holding the bag, in essence."
"And the bust breaks the back of the banks. There needs to be a bailout. Unfortunately, the Spanish government has been in denial about the true state of its banks for pretty much since the crisis began. But you could say that finally they have run out of options. So what happened over the weekend was really the end of denial." 06-12
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