Saturday, June 09, 2012

Spain IS Greece After All: Here Are The Main Outstanding Items Following The Spanish Bailout

After two years of denials, we finally have the right answer: Spain IS Greece. Only much bigger (it is also the US, although while the US TARP was $700 billion or 5% of then GDP, the just announced Spanish tarp is 10% of Spanish GDP, so technically Spain is 2x the US). So now that the European bailout has moved from Greece, Ireland and Portugal on to the big one, Spain, here are the key outstanding questions.

1. Where will the money come from?
Zero Hedge

The printing press of course


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