Over 100 billion euros have left the country in the first three
months of this year - that's more than a tenth of Spain's GDP. Fears
are growing that just like Greece - Spain will soon need a euro bailout.
But unlike Greece - Spain is a huge economy - the fourth biggest in
Europe - meaning a bailout would be a lot more expensive - and a default
would be catastrophic for the euro.
Meanwhile in Ireland - voters took to the polls to approve a new EU
treaty that requires Ireland and other Eurozone nations to meet budget
deficit goals through brand new austerity measures. Polls indicate the
treaty will likely pass - however results aren't expected until this
evening.
-Thom
(Do you think Spain will get a bailout? Tell us here.)
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