Spain close to meltdown?

Goodness me.  This has come as a shock.

http://www.telegraph.co.uk/finance/financialcrisis/9569353/Spains-crisis-flares-again-as-AAA-club-scuppers-bank-rescue-deal.html

Spain really does have to seek a sovereign bailout and with it loss of fiscal sovereignty, unless of course it leaves the eurozone, which is unlikely.  Street battles, the threat of Catalonia seceding, indecision in the government.   What a mess.

See also:  http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100020330/be-very-careful-beloved-spain/

http://www.telegraph.co.uk/finance/financialcrisis/9569851/Spain-braces-for-austerity-budget-to-avoid-full-bailout.html

http://www.telegraph.co.uk/finance/comment/damianreece/9569427/Spain-is-turning-into-the-new-Greece-and-Mariano-Rajoy-has-himself-to-blame.html

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100020401/europes-betrayal-of-spain/
Excellent article.

http://www.telegraph.co.uk/finance/financialcrisis/9571712/Spanish-budget-what-the-economists-say.html

Will be interesting to see how this goes down, both in France and the markets:  http://www.telegraph.co.uk/finance/financialcrisis/9571673/Debt-crisis-Francois-Hollande-to-be-tested-as-he-unveils-Frances-toughest-Budget-for-30-years.html


Back to Spain.

http://www.telegraph.co.uk/finance/comment/jeremy-warner/9572359/Spain-must-leave-the-euro.html

http://www.telegraph.co.uk/finance/financialcrisis/9572501/Spains-rising-debt-costs-eat-up-austerity-gains.html

Portugal:

http://www.telegraph.co.uk/finance/financialcrisis/9576516/Thousands-of-Portuguese-protest-against-cuts.html