Friday, 5 October 2012

Spain Hesitates Over Bailout Request

[...] And in the capital, Madrid, mounting discontent over the stagnating economy and tough austerity has brought Spaniards out onto the streets in protest - with sometimes violent results. More demonstrations are expected in coming weeks.

Costas Lapavitsas from London's School of Oriental and African Studies recently wrote a book called "Crisis in the Eurozone," arguing that cash-strapped states should quit the euro. He says if Spain asks for a bailout it will be forced by Brussels to impose stringent austerity. [...]