Today, following the crisis with Spain’s fourth largest bank Bankia, the Spanish have called for Bank Aid from the Germans, after the ECB rejected their reguested bailout. Pressure is building on Angela Merkel to make a decision on whether she will proceed with the requested “aid”. As the markets expect Spain’s finance sector to plummet, more pressure is building in Europe.
I feel that in Europe at the moment;
too many countries are relying on Germany to provide a bailout for their banks. Germany is effectively juggling Cyprus, Greece and Spain at the moment, and Angela Merkel’s decisions will affect their already falling economies.
I do not see why the Spanish think they will get bailed out by the Germans when they have already been rejected by the ECB. I guess we will find out in the next few days, feel free to post your views on this story in the comments section below.
Seb
Gimme My Future Back 