Spain could ask for bank bailout this weekend

The head of Austria's central bank, Ewald Nowotny, and German finance minister Wolfgang Schaeuble have both made statements over this weekend that affect bailout options for Spain. In particular, Nowotny says Spain must seek help before ECB buys bonds. Spain would have to apply for a rescue package before qualifying for inclusion in the European Central Bank's plan to buy debt of struggling euro zone members, ECB policymaker Ewald Nowotny said.

The head of the German central bank, Jens Weidmann, is pressing Spain to seek a bailout for troubled banks from the eurozone's current rescue fund, the EFSF."If Spain feels overwhelmed by its financial needs, it should use the instruments which have been created for that," Weidmann said in an interview to appear on Sunday in the weekly Welt am Sonntag."The motto must not be: Above all no rescue funds. Hoping for central bank aid to avoid fulfilling one's responsibilities is a bad move," the Bundesbank chief was quoted as saying in a pre-release of the interview.

George Orlwell coined the term doublethink in his classic book 1984. Doublethink is the power of holding two contradictory beliefs in one's mind simultaneously, and accepting both of them. Have you listened to the conflicted beliefs coming from Spain lately? Conflicted Beliefs