Spain in tatters

Forget Greece, Spain is the big one. It is too big to save.  The eurozone hasn't the fire power to bail it out.  Sovereign debt rates above 6%, the highest unemployment rate in  eurozone, banks on the brink of collapse as property values crash and doubts if the austerity measures (even with some relief) will be met.

http://www.telegraph.co.uk/finance/financialcrisis/9290206/Catalonia-calls-for-help-from-central-government-to-pay-debts.html

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9289156/Nationalised-Spanish-lender-Bankia-to-ask-government-for-more-than-15bn.html

http://www.telegraph.co.uk/finance/financialcrisis/9291329/Bankia-asks-for-19bn-from-Spains-taxpayers.html

Meanwhile in Greece:

http://www.spiegel.de/international/europe/german-press-review-on-potential-greek-exit-from-euro-zone-a-835260.html

http://www.independent.co.uk/news/world/europe/greece-out-of-cash-out-of-hope-7786267.html

http://www.telegraph.co.uk/finance/economics/9292146/No-German-money-for-Greek-bottomless-pit.html

http://www.telegraph.co.uk/finance/financialcrisis/9291701/Greeks-facing-payback-time-for-tax-dodging-IMF-chief-Christine-Lagarde-says.html


Finally, articles on other related issues.  I commend the first link below.

http://www.telegraph.co.uk/news/worldnews/europe/9289992/At-the-heart-of-Europes-crisis-is-the-abolition-of-the-nation-state-and-the-attempt-to-impose-monetary-union.html

http://www.spiegel.de/international/europe/german-government-wants-to-create-special-economic-zones-in-europe-a-835224.html

http://www.telegraph.co.uk/news/politics/9287752/More-EU-veto-moments-please-Prime-Minister-says-Chris-Grayling.html

http://blogs.telegraph.co.uk/finance/jeremywarner/100017457/if-britain-had-joined-the-euro/