Spain and Italy need a full-scale bailout from the European Union because of their high levels of government debt and the credit quality of their banks, and will likely seek help within the next 6 months, according to Sean Egan, Founding Partner and President of Egan-Jones, an independent ratings agency.
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Whatever they just got is enough to keep the banks going and the spending on par. It’s not really a solution.
Like giving the alcoholic $100.. you just bought him time. He or she will be back.
They got twice what was needed