These bailouts are such BS. Spain has not demonstrated any will to deal with its spending and entitlement issues. No Euro government has. These bailouts do nothing more than extend an unsustainable system. Maybe we need a crash that comes with being unable to spend anymore. Hell, perhaps they should all do what France did and jack up taxes to 75% or 80% on the “rich”. They will quickly see that people don’t like working for free and tax revenue will dry up. Thus, with no tax revenue and no bailout, they will be unable to spend. People may riot but so be it. If there is to be a war over entitlements, let’s have it now.
And when, in 1-3 years..Spain, Greece, Italy and others have failed to keep their part of the bargain..the German people are going to vote in a very right wing nationalistic party..this is the LAST kick of the can down the raod..
I suspect another part of Spain asking ASAP is they are hoping for “approval” before the magnitude of the current dip into recession in Europe and elsewhere.