Wednesday, January 4, 2012

Spain Thinking Bailout?

Marketwatch:

The losses come as Spanish newspaper Expansion reported that the Spanish government was mulling whether to apply for loans from the European Union's bailout fund and the International Monetary Fund to help restructure the nation's banks. The unconfirmed Expansion report cited unnamed sources, according to Bloomberg. "Unidentified officials were quoted in the piece, but there is no smoke without fire when it comes to the euro-zone sovereign debt crisis, and surely this suggests that the highest echelons of the Spanish government are toying with the idea that a bailout might be the best route forward," said Kathleen Brooks, research director at Forex.com, in a note.
Sigh, broken record...broken record...broken record.

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A student of the markets that has held portfolio management, analysis and trading positions for over 15 years.