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Spain To Get $125 Billion In Aid

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By Douglas A. McIntyre Published
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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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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