Spain is going to ask the EU for a bailout (economy, financial)

[HappyTexan]

Just a matter of time. Now Spain is going to ask the EU for a bailout tomorrow. No amount given.

Good thing Germany/France have an endless supply of money eh ?
In this "global" economy with so much intertwined there is no way that the crisis over there will not effect us.

Exclusive: Spain poised to request EU bank aid on Saturday - Yahoo! News
Spain is expected to ask the euro zone for help with recapitalizing its banks this weekend, sources in Brussels and Berlin said on Friday, becoming the fourth country to seek assistance since Europe's debt crisis began.

[gomexico]

The financial collapse of several European nations contributes greatly to our own economic problems in the USA. None of the European problems are particularly good for us.

[HappyTexan]

Well Spain asked and got 100 billion Euros ($125 billion USD).

The only detail missing is where the money will be coming from. Spain won't take IMF money and no European country has committed yet to provide any bailout money.

Euro zone agrees to lend Spain up to 100 billion euros - Yahoo! News
Officials said there had been a heated debate over the International Monetary Fund's role in Spain's bank rescue, which Madrid wanted kept to a minimum. It will not provide any of the money.
..
"The issue, however, is there is still a lack of detail about where the money's coming from, which is crucial. The market will treat it with some caution until they see how it will be funded."

[malamute]

I wonder if the bailouts come with any strings attached. They may help Spain and Greece if the lenders get control over their economies and rein in their wild spending habits.

[lifelongMOgal]

How Europe is assuring its own doom. Nigel Farage and Peter Schiff break it down. - YouTube

[CDusr]

Originally Posted by malamute

I wonder if the bailouts come with any strings attached. They may help Spain and Greece if the lenders get control over their economies and rein in their wild spending habits.

Of course they do. They are loans. You got a debt ridden country, that you continue to bleed, then buy up the assets eventually for pennies.

Goldman Sachs put the nail in the coffin of Greece and has made out like a bandit.
Same thing that happens to corporations with assets that are leveraged then parted out.