It seems the 120 billion Spain requested from the Euro zone (meaning Germany), will probably be handed.
Given the strange configuration of the Euro zone, the money that is meant to bail out Spanish banks goes to the Spanish government first. There seems to be no legal binding for the Spanish government to use the money requested as prescribed by the doctor.
This is probably the real test for the post Cold War Europe. Either way, it will set a dramatic precedent for the next few decades.
Espana, ah, Espana! Are you still the back country of Lorca or the winner of the World Cup?
---------
