Greece and Spain in the news

The threat has been made to Greece: scrap austerity and there will be no future bailout payments from the IMF and the European bailout provision.

http://www.spiegel.de/international/europe/german-politicians-warn-greece-over-austerity-a-832232.html

http://www.telegraph.co.uk/finance/financialcrisis/9255710/Keep-cutting-or-EU-aid-stops-Greeks-told.html

http://www.telegraph.co.uk/finance/financialcrisis/9255637/Germany-warns-Greece-it-will-halt-aid-unless-it-commits-to-bailout-agreements.html

The EC is stating that the fiscal pact is not open to re-negotiation. A shot across the bows of the new French president.  Whatever happened to the concept of a democratic mandate?

Spain's borrowing cost have touched 6% as the markets fret at the instability of Spanish banks caused by the crash in property values in that country.

http://www.telegraph.co.uk/finance/financialcrisis/9252878/European-markets-slump-on-Greek-and-French-fears.html

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9253207/Crisis-escalates-as-insurrection-breaks-German-control-of-Europe.html

http://www.telegraph.co.uk/finance/financialcrisis/9253123/Germany-vulnerable-to-southern-European-crisis.html

http://www.telegraph.co.uk/finance/financialcrisis/9253369/Greece-drifts-closer-to-euro-exit.html

http://www.telegraph.co.uk/finance/markets/9253398/Greek-threat-to-the-euro-scares-worlds-stock-markets.html

http://www.telegraph.co.uk/finance/personalfinance/investing/9254729/The-eurozone-bail-out-had-three-aims.-It-has-failed-on-all-of-them.html

UPDATE:

http://www.telegraph.co.uk/finance/financialcrisis/9255621/Spain-nationalises-Bankia-as-euro-crisis-escalates.html

Finally:

http://blogs.telegraph.co.uk/finance/timworstall/100017007/why-the-euro-is-doomed-to-fall-apart-it-was-an-incredibly-stupid-idea-in-the-first-place/