Viva Espana..........

.......or not? Crunch time for Spain and Germany, although it looks likely there will be a fudge - austerity 'lite' in return for the funding*.  Papering over cracks again.  The fundamentals have to be addressed.

http://www.telegraph.co.uk/finance/financialcrisis/9312326/Spain-makes-plea-for-EU-aid-for-troubled-banks.html

http://www.telegraph.co.uk/finance/financialcrisis/9313558/Spain-says-no-EU-bail-out-before-bank-audits.html

*  http://www.spiegel.de/international/europe/possible-compromise-deal-on-european-aid-to-spanish-banks-a-837313.html

http://www.spiegel.de/international/europe/spanish-bailout-refusal-is-no-longer-tenable-say-commentators-a-837318.html

http://www.independent.co.uk/news/world/europe/spain-caves-in-to-market-pressure-and-asks-europe-for-bank-bailout-7818049.html

http://www.telegraph.co.uk/finance/financialcrisis/9312306/Andrew-Tyrie-urges-IMF-to-lead-the-fight-against-the-eurozone-fire-sees-Greek-exit-from-euro.html

http://www.telegraph.co.uk/finance/financialcrisis/9315081/Europe-ready-to-rescue-Spains-banks.html

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9315017/Spain-launches-investigation-into-Bankia-management.html
Deflecting the flack.

Meanwhile....

http://www.independent.co.uk/news/world/politics/david-cameron-and-barack-obama-urge-immediate-plan-over-eurozone-crisis-7820610.html

http://www.telegraph.co.uk/news/politics/9313461/David-Cameron-and-Barack-Obama-agree-on-need-for-immediate-plan-to-resolve-eurozone-crisis.html

http://www.telegraph.co.uk/finance/financialcrisis/9315196/David-Cameron-must-bolster-German-ties-but-not-at-the-cost-of-our-banks.html