Tuesday, May 4, 2010

Spain Bailout rumour

Apparently a rumour is doing the rounds in financial markets that Spain will need a bailout to the tune of 280 billion euros. This comes after the Greek rescue package was thrashed out at 110 billion over the weekend.
This is being strongly denied by Spain , as it could easily cause damage to the markets and may be a ruse to enable some financial dealers to make a quick buck.
But in many things in life, there is no smoke without fire, and very often rumours have at least some element of truth to them.
So we wait and see what is going to happen with Spain. On the face of it, Spain is maintaining that it's situation is a lot better than that of Greece, which, if true, would make a bailout of that magnitude seem unlikely

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