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April 9th, 2012 
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Spain ‘headed towards’ 2013 financial crunch
AFP – Spain, sucked back into the centre of the eurozone debt crisis, is headed towards a financial crunch in 2013 that may force it to seek international help, analysts warn. Alarm has spread on the financial markets over Spain’s rising public debt, bulging deficit, fragile banks and a slide into recession at a time of soaring unemployment. Investors pounced in the past week, forcing the government to pay higher borrowing costs at a bond auction and snapping up securities that pay out in the case of a default on sovereign debt. Read Article
Tags: 2nd Great Depression, banks, debt wealth, Europe, financial system
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