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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Comments

And the European economic cancer will spread to the US.

lovecraft
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May. 8, 2012 12:06 pm

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

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nimblecivet
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Jul. 31, 2007 4:01 pm

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