Today's Coming Crisis Movie

Friday, August 24, 2012

Now debt-stricken Spain starts talks to get huge bailout

Spain has begun talks with eurozone leaders about a multi-billion euro bailout to prop up its economy.

In a move that will renew fears of a collapse of the single currency, Spanish officials have discussed an aid package for its sovereign debts from the eurozone’s trillion euro rescue fund.

The country has already received support to shore up the balance sheets of its banks.

The news overshadowed crisis talks yesterday about the fate of Greece, which is seeking to slow the pace of the austerity programme put in place after it took two bailouts from the eurozone and the International Monetary Fund.

Senior government sources in London have revealed that world leaders have effectively done a deal behind the scenes to prevent Greece slipping out of the single currency before the US presidential elections in November. Read More