So. Spain got a bailout (and continues to negotiating their banking bailout).
And, Greece got repeated bailouts. (I still consider Greece’s non-timely payments of less than the amount owed to be a default — and I expect them, to leave the euro zone before 2013 is over).
Who is next in the banking handout parade?
Why its Italy!
Italy’s banks don’t have as much debt relative to some other nations (Spain) but their government does relative to GDP. Bravissimo!
As world economic growth ebbs, talk of new stimulus surges
Washington Post, June 12, 2012
This post originally appeared at The Big Picture and is posted with permission.