Spain will ask for an EU bailout, but not until private-sector audits of its banks (expected by...

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slard271 Comments (61)
 
New cup! Move down!
9 Jun 2012, 01:35 PM Reply Like

Regarded Solutions Comments (10699)
 
and the beat continues!.....who's next?
9 Jun 2012, 01:44 PM Reply Like

Dan Naumov Comments (162)
 
Spain "will ask". But "without conditions", good luck convincing Germany, Netherlands and Finland to say Yes.
9 Jun 2012, 01:54 PM Reply Like

CautiousInvestor Comments (2779)
 
Interestingly, the agreement follows an extensive IMF report on the Spanish banking sector that found it was suffering through a crisis “unprecedented in its modern history”.

Last week, unrealistically low bailout figures of euro 40 billion were being thrown about but more realistic numbers of euro 100 billion are currently being discussed, reflecting pressures to be more forthcoming about the scope and depth of the Spanish banking crisis.

Unfortunately, though, capitalization needs of this scale may prove unduly optimistic as some think tanks believe Spain needs euro 150 to 300 billion to shore up its banking system.
9 Jun 2012, 02:08 PM Reply Like

Aristiphones Comments (1246)
 
i agree. "unleash the bazooka" time. the euro has been signalling this for some time. "we're always the last to know" even online "and that's just how the media wants it." (why else be in charge of a media empire, right?) still we're going into uncharted water here. never before has there ever existed a currency union this large...or is it trading bloc? i forget. can a trading bloc survive without a strong....eh, forget it.
9 Jun 2012, 02:15 PM Reply Like

sr1977 Comments (318)
 
So in layman's terms they needed $300B six weeks ago, now they really need $500B and in six months they will need another $1.2T...at which point everyone will realize they are as unsaveable as Greece. But why worry now? At these scales of indebtedness and with politicians and investors having the time horizons of 6 year olds, fixing this train wreck for 6 months is like 60 years to them.
9 Jun 2012, 02:48 PM Reply Like

Glocks-n-Gold Comments (187)
 
I find that comment highly insulting to 6 year olds and wrecked trains =)
9 Jun 2012, 03:15 PM Reply Like

anonymous#12 Comments (553)
 
Hahahahahaa another slap on the face for the doomers of zerohedge.....

Nothing would collapse, in fact the US, China growth are accelerating....this coupled with the fact that more easing is coming....


Sorry doomers....
9 Jun 2012, 02:36 PM Reply Like