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July 27th, 2012 
FAKE NEWS for the Zionist agenda Reports indicate that Valencia, Murcia, and Catalonia, together have around 65 billion euros in debt. The regions are nearly unable to pay for key public service providers.
The situation is also raising concerns among Spaniards who have become tired of heavy austerity measures.
“Europe more than Spain, should avoid a Spanish bailout at all costs. Spain is sort of the poster child of a country that did the right things once the crisis started…They have passed a major market reform, they’ve done whatever they’ve been asked to do as far as austerity,” Managerial Economics professor Strapline Gayle Allard said.
Spain has asked for up to 100 billion euros to recapitalize its ailing banks which have been battered by four years of economic downturn and a burst in property bubble which has sent mortgages falling every month since August 2007.
Spain is now in a catastrophic financial situation similar to that of Greece, Ireland and Portugal, which have been forced to seek international bailouts shortly after their bond-yields exceeded the seven percent threshold.
The EU member state has been struggling with its economy since the country’s collapse into recession as the result of the global financial crisis roughly five years ago.
SZH/MA
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