Spain looks like it will be the next domino to fall in the Eurozone crisis
by Thom Hartmann,posted Jun 1 2012 12:13PM
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.
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Spain looks like it will be the next domino to fall in the Eurozone crisis
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06/03/2012 5:14PM
People here should watch what's going on in Europe
People are more organized and committed in Europe and for that reason alone, people should pay attention to what's going on in the Eurozone countries, because this will become more and more part of the US election campaign upuntil Election Day.
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