Wednesday, May 30, 2012

Spanish Banking Woes - Eurozone Crisis

Daily Mail: Reports that there are worries that other Spanish Banks beyond Bankia will need to be bailed out.

Lets Get Real:

The EU has to demand that Spain takes a bailout, that EU/IMF/ECB Inspectors are placed in Spanish Government Departments, that Regional Governments in Spain must have their budgets approved by the Centre. The reforms of the new Spanish Government have to be pushed through, the level of unemployment in Spain at the of the end of the day could lead to civic disorder, also we might see millions of Spanish and Greek youngsters leave their Countries head to France Germany or the UK, the aim to get a job. This would place extra burden on these Countries, from welfare to anger by local that EU Citizens are taking jobs at a cheaper rate. Thus the Spanish problem has to be solved and fast, Greece is a lot cause, the EU might not have the money to bailout out Spain, a sinking Spain might take Italy with it, then the Euro would be finished and the EU would not be far behind.

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