The rally in Spanish bonds means the country may not have to apply for a bailout in order to...

|By:, SA News Editor

The rally in Spanish bonds means the country may not have to apply for a bailout in order to trigger ECB purchases of its debt, says PM Rajoy, showing a disturbing amount of naivete for a national leader. His remarks remind of then-Treasury Secretary Paulson bragging about the bazooka in his pocket being enough.