Mish’s Global Economic Trend Analysis: Spanish 10-Year Bond Yield Hits 5.99% as Official Denials in Spain Escalate; “Bailout” on the Way

“Bailout” of Spain on the Way

There you have it, three official denials in a single day by the Minister of Finance, the Minister of the Economy, and the Bank of Spain.

Translation: “we need a bailout and fast, but politically we do not want one”.

This bailout is going to be far more painful economically speaking than was Greece.

via Mish’s Global Economic Trend Analysis: Spanish 10-Year Bond Yield Hits 5.99% as Official Denials in Spain Escalate; “Bailout” on the Way.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s