squaremilecity

EU leaders hailed it.

Merkel & Co. gave their blessing to it.

UK leaders nodded in mild approval to it.

The IMF applauded it [from the sidelines.]

And markets, of course, ‘sold’ it.

It’s not that frequent for the political discourse at key points in Europe’s financial crisis to be ‘called out’ by public opinion so quickly.

But this time the general wider opinion got in step with the oft’ skeptical markets PDQ.

The European Union’s €100 billion solution for Spain’s banking crises is arguably that inadequate, it’s obvious to all.

Even so, there are a number of key figures and details about Spain’s finances and the EU’s latest bailout which are important but not so readily apparent.

I’ve tried to distill the major ones into a few main points below.

[NB: as usual, I’ve had a lot of help from ‘economists’ spam’, but the responsibility for the following is…

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