"This is a classic example of a doom loop . they just aren't making any progress" says SocGen's...

|By:, SA News Editor

"This is a classic example of a doom loop ... they just aren't making any progress" says SocGen's James Nixon, his firm expecting Spain's deficit/GDP ratio exceeded 9% in 2012 (the target was 6%). For the moment, Mario Draghi is the prevailing force, as Spanish bond yields continue to fall. "The market is ignoring unresolved macro issues," says RBS' Albert Gallo. "Spain is not sustainable."