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Why Spain’s Big Bank Bailout Is Really a Big Bust

From business.time.com

Every time the leaders of the beleaguered euro zone come together to actually make a decision aimed at quelling its debt crisis, the boost to confidence in the common currency’s future has become shorter and shorter. With the latest step – a European Union-backed bailout of Spain’s weakened banks of up to 100 billion euros ($125 billion) announced Saturday – was, as usual, hailed as another landmark towards ensuring the survival of the 17-nation monetary union. EU Commissioner Olli Rehn called the bailout “a very clear signal to the market, to the public that the euro area is ready to take decisive action in order to ... (full story)

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