Greek anger as Spain is handed 100bn bailout with NO need for austerity measures… and world markets bounce back

UK Daily Mail
June 11, 2012

Angry Greeks are demanding better terms on their country’s bailout after Spain was handed what they see as a ‘no-strings attached’ €100billion cash boost.

Far-left party Syriza, which could win the re-run of the Greek elections on Sunday, said the Spanish deal ‘showed Europe was abandoning its policy of austerity’.

The agreement, they said, was in stark contrast to the deal hammered out with the Greeks two years ago.

That saw the nation hit with strict rules including tight supervision and submitting to regular inspections by the troika of the European Commission, the European Central Bank and the International Monetary Fund.

Spain has only been told to restructure its trouble financial sector – currently lumbered with billions of euros worth of bad loans by the bursting of the Spanish property bubble.

Full article here

This article was posted: Monday, June 11, 2012 at 7:46 am

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