The perils of bailing out Spain

It’s one thing when the eurozone rescues 6% of its GDP, but quite another when it starts propping up a further 12%. As Nicholas Spiro writes, when Spain starts to flirt with insolvency, all sorts of nasty things can happen.

  • 15 Jun 2012
Last weekend’s decision by the Spanish government to request external financial assistance is the most significant and alarming development in the two-year-old eurozone crisis. What started out as a case of gross fiscal mismanagement in a country accounting for just 2% of eurozone GDP has ...

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