Spain looks like it will be the next domino to fall in the Eurozone crisis

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Over 100 billion euros have left the country in the first three months of this year – that’s more than a tenth of Spain’s GDP. Fears are growing that just like Greece – Spain will soon need a euro bailout. But unlike Greece – Spain is a huge economy – the fourth biggest in Europe – meaning a bailout would be a lot more expensive – and a default would be catastrophic for the euro.

Meanwhile in Ireland – voters took to the polls to approve a new EU treaty that requires Ireland and other Eurozone nations to meet budget deficit goals through brand new austerity measures. Polls indicate the treaty will likely pass – however results aren’t expected until this evening.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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And the European economic cancer will spread to the US.

lovecraft
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May. 8, 2012 11:06 am

I hope this doesn't mean that Desigual is going to close.

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nimblecivet
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Obamacare is not some socialist marxist leftist plot...

Obamacare is not some crazy communist, left-wing, socialist plot. It’s a Republican plot.

Back in 1971, then President Richard Nixon was extremely concerned that he would have to face then Senator Ted Kennedy in the 1972 presidential election. At that time, Senator Kennedy was pushing a proposal for a national single-payer healthcare plan that would extend coverage to all Americans.

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