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Spain’s bailout: 4 hours and 40 minutes of calm – The Washington Post

In the past, every time European leaders have huddled together and announced a plan to douse the latest fire in Europe, the financial markets have usually been placated for a brief while — say, a few weeks or months. Then another crisis flares up, and everyone starts panicking again.

Nowadays, though, it seems we only get a few hours of euphoria before panic sets in again. On Saturday, euro zone leaders declared they were ready to loan the Spanish government up to $125 billion to bail out the country’s troubled banks. The hope was that this would instill confidence in Spain’s banking sector, stop Spainards from pulling their deposits out, and make everybody more confident in Spain’s overall future.

That didn’t quite happen. As you can see from the chart below , the calm lasted about 4 hours and 40 minutes.

Excerpt via Spain’s bailout: 4 hours and 40 minutes of calm – The Washington Post.

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