Tim Travis'  Instablog

This article insinuates that because of bailout of Spanish banks, the bond market is likely to punish the countries sovereign debt. I might end up looking foolish but I think this deal is a huge positive for Spanish bonds. By eliminating this massive problem which has plagued Spain, the focus will be on boosting growth and eliminating waste in the general economy. Spain is in a serious recession if one measures by any common sense and the only way out of a debt crisis to grow the economy. I don't believe that Europe has gone far enough to generate confidence and resolve this crisis but at least it is a step in the right direction. I've said it many times before and I'll say it again, but the sooner and more severe the actions are taken to fix the problem, the less the overall costs and damage will be.

http://online.wsj.com/article/SB10001424052702303296604577456963195551558.html?mod=markets_newsreel