After clinching Spain’s €100 billion bank bailout, Prime Minister Mariano Rajoy flew to Poland on Sunday for the Spanish team’s soccer match, declaring “this matter is now resolved.”
Not so fast, prime minister.
On Tuesday, Spain’s long-term borrowing costs soared to their highest level since the country joined the euro zone. Investors have apparently concluded that the rescue is potentially a much better deal for the banks and their shareholders than for the government, its taxpayers and bondholders.
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Filed under: * Economics, Politics Economy Taxes The Banking System/Sector The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- Politics in General * International News & Commentary Europe --European Sovereign Debt Crisis of 2010 Spain * Theology Ethics / Moral Theology
Posted June 13, 2012 at 6:15 am
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