It is tragic that the markets are forcing the 4th largest economy in the Euro zone to borrow money at record levels. Spain will now have to be bailed out but since there is no more money in the ECB it remains a mystery as to what will happen next.
It is inevitable that the single currency will break up. Greece was a smaller country to rescue but Italy and Spain are too large to save. The people of Spain should not be made to suffer the same indignity that the Greeks were put through a few months ago. But it was said at the time that the media focus on Greece was an attempt to focus attention away from the real big problems of the zone. Just scrap the whole project and start again I say!
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