Spain continues to suggest that it does not need a full bailout to survive financially. Its actions today say otherwise. According to The New York Times, Spain took a $125 billion aid package from Europe, after financial ministers from the region approved the deal.
As the Times points out, the amount is beyond the immediate needs of the country which is in the middle of a second recession in five years, and continues to struggle with 25% unemployment. It is hard to make a case the Spain’s economy will not get much worse before it improves.
The aid, may, stop the anxiety the global capital markets have about the Europe crisis, but there is an equal chance, based on recent history, that the sum will be viewed as inadequate because Portugal and Greece may need larger bailouts than the ones they have received, and there are ongoing forecasts that Italy will also eventually falter.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
