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This latest euro fix will come apart in less than a month
Only this one may not even succeed in buying time – I give it less than a month before some such other piece of bad news comes along to fire the crisis anew. Like all the others, the latest fix seems to create as many problems as it solves. The euphoria in markets at Spain's rescue lasted all of a few hours; having bounded away at the opening, they ended broadly flat. But please don't call it a bail-out. It may walk, talk and look like a bail-out, but to the Spanish premier, Mariano Rajoy, Spain's handout is completely different to the three rescues we've already seen, even though at €100bn (£81bn)– or some ... (full story)