L’Europe craint qu’un plan de sauvetage de l’Espagne pèse sur ses ressources

Infographie : François Descheemaekere

Europe Fears Bailout of Spain Would Strain Its Resources

[The New York Times]

As Spain’s deepening financial problems make a European bailout a more distinct possibility, a looming question is where the money will come from.

Spain is the euro zone’s fourth-largest economy, after Germany, France and Italy, and the cost of a rescue would strain the resources of Europe’s new 700 billion euros ($867 billion) bailout fund that is to become available this summer. That would leave little margin for any additional bailouts. Spanish and European officials hope a bailout will not be needed. But each day, financial turmoil mounts over the government takeover of the giant Spanish mortgage lender Bankia, the flight of money to safer borders and a worsening recession. Compounding Spain’s problems has been an outflow of foreign capital from the country, meaning the Spanish banks in recent months have been the only major buyers of its government bonds needed to finance the nation’s budget deficits.
With those bonds now plummeting in value, the fate of Spain’s banks and government are intertwined in a financial tailspin.
Lire : nytimes.com