Spanish bank bailout tied to Greek elections

Spain's $125 billion bank bailout probably would have waited a week or more except for the Greek parliamentary  elections scheduled for this coming Sunday. That's because it is probable that even if a pro-bailout party, such as Antonis Samaras' New Democracy, wins the most seats, the former prime minister is on the hook after telling voters he will renegotiate some of the harsher terms imposed by the EU for the bailout. That dog won't hunt, according to the Germans and ECB officials. Hence, even if the radical left is denied, Greece may still be forced to exit the euro. Washington Post: At the moment, those leaders are working to protect the rest of the euro zone from whatever happens when Greece votes Sunday. Greece's anti-bailout politicians have wagered that the unpredictable consequences of the currency union's kicking out a member will force Europe to support them regardless. The urgency with which Spain was pushed to take a bailout - the International Monetary Fund...(Read Full Post)