Valencia Spain is known for their orange groves, but this small provence or state in Spain spooked the markets yesterday as they asked for another bailout. Valencia needs to repay 2.85 billion Euros by year end. While that figure is small compared to all the other bailouts we hear about, it was enough to spook already on edge investors yesterday. Also it shows that despite the efforts of the ECB, investors are keen to the fact that no true solution is available for so many troubled debt laden countries in Europe.
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