The Debt Hot Potato In Europe

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Spain has supposedly been “saved” by a €100 billion bailout.

However, the details surrounding the source of the funding for this “bailout” still remain a mystery as there is no entity capable of providing the €100 billion in capital: neither the IMF, nor the Federal Reserve, nor the ECB have the political backing to launch a bailout of this size… and of the two EU mega-bailout funds, the EFSF and the ESM, the former can’t even raise €10 billion successfully while the latter doesn’t even exist yet…

http://beforeitsnews.com/story/2338/946/Sorry_Folks,_Spain_Isnt_Saved_And_The_Next_Leg_Down_is_Coming_Soon.html

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