In Bailouts, Spain Will Be 'the Biggie'

Posted by Ian Cooper - Tuesday, November 23rd, 2010

From CNBC:

"The biggest bailout the European Union will have to do if it comes to it will be Spain and it is worrying that there is not a set mechanism on how to go about it, Cornelia Meyer, CEO & Chairman, MRL Corporation, told CNBC Monday.

At the weekend, euro zone financial ministers and Irish officials agreed on a bailout of under 100 billion euros ($137 billion) for Ireland, sending stocks in Europe and the euro higher, as investors breathed a sigh of relief.

But the next in line for European Union and International Monetary Fund money may be Portugal, and then Spain, analysts said."

Read more here.

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