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Markets Get a ‘Spailout’? It’s No Bailout for Spain – CNBC

European officials shouldn’t be surprised if their latest unveiling—a rescue plan for Spain’s troubled banks—fails yet again to impress markets or resolve the continent’s crisis. After all, whatever the package of up to €100 billion in loans might do to calm fears about Spain’s banks for the time being, it may only increase concerns about the health of the sovereign itself…

What all the fancy-sounding acronyms in the world can’t obscure is the fact that Spain will effectively be on the hook itself for whatever sum is borrowed to bail out its banks.

via Markets Get a ‘Spailout’? It’s No Bailout for Spain – Business News – CNBC.

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