The EU has confirmed a bailout of Spain’s banks.(Dominique Faget/AFP/Getty Images)
The EU has confirmed a bailout of Spain’s banks.
(Dominique Faget/AFP/Getty Images)

Euro Crisis: Spain Down, Italy Next?

June 13, 2012  •  From theTrumpet.com
What really happened with the Spanish bailout, and what does it mean for Europe?
 

European Union finance ministers agreed to loan Spain €100 billion to bail out its banks on June 9. But they haven’t agreed where the money will come from or what the conditions will be, meaning Spain is still vulnerable and may take Italy down with it.

JP Morgan has predicted that Spain will need €350 billion. The €100 billion doesn’t come close to fixing Spain’s problems.

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