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The Bull Case For Spain-WSJ

This article outlines some of the upside opportunity in Spain. Their problems primarily reside in the banking and private sectors but this weekends bank recapitalization should help things considerably. It will be interesting to see how credit markets react to the deal but my gut feeling is that it will be positive. I think there will be more problems to come and a more permanent solution is needed, but it's a step in the right direction.