BAILED OUT
1 | SPAIN
Authorities in the euro zone's fourth largest economy have repeatedly denied they would ever take a bailout. No more: on June 9 the Spanish government tentatively agreed to accept roughly 100 billion euros ($125 billion) in assistance from European Union emergency funds. Prime Minister Mariano Rajoy quickly spun the intervention as assistance to Spanish banks, not a bailout of the government's debt, something that could scare off private investment and lead to new euro-regulated restrictions. But after a brief rally in response to the loan package, investors are starting to question the mechanics of the loan--which...