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Spain, Debt and Sovereignty

tito18 Wrote: Jun 13, 2012 4:21 PM
It is clear to me that the fate of european nations will be delegated to the bankers who dispense money according to some formula devised by bankers. Unfortunately this model will not be short termed but will become the governing body and policy maker of europe. National sovereignty will be a thing of the past.

Eurozone countries on June 9 agreed to lend Spain up to 100 billion euros ($125 billion) to stabilize the Spanish banking system. Because the bailout dealt with Spain's financial sector directly rather than involving the country's sovereign debt, Madrid did not face the kind of demands for more onerous austerity measures in exchange for the loan that have led to political instability in countries such as Greece.

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Related Tags: Debt Sovereignty