Initial Thoughts On The Spanish Bank Bailout
By Cullen Roche: Another Sunday bailout of Europe. What else did you expect? By this point we've all seen this movie 100 times so this should not come as a big surprise. European leaders have made it clear that they'll do anything to avoid a Lehman 2.0, but the problem is that they won't do enough to actually fix the euro.In case you haven't heard the news yet, here's Reuters:
(Reuters) - Eurozone 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.
"The loan amount mustComplete Story »