Comment on Spain Financial Crisis: Maginot Lines And Illusions

Spain Financial Crisis: Maginot Lines And Illusions

Many commentators suggest Spain is now the euro zone's Maginot Line. The argument is clear: Spain, with gross domestic product of more than $1.3 trillion (the eighth largest in the world and fifth largest in Europe) and with large outstanding bank and public debt, is simply too big to fail without causing irreparable harm to the euro-zone financial system.

 

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