European Union flags outside the European Commission headquarters in Brussels. Photograph: Yves Herman/REUTERS
Debt Crisis: Spain On Brink Of A Global Bail-Out -- The Telegraph
Spain was on the brink of requiring a full-scale international bail-out on Monday night as David Cameron warned that the eurozone crisis could continue for years.
The uncertainty after the rerun of the Greek elections was met by an increase in the cost of Spanish borrowing on financial markets amid fears that contagion will escalate.
World leaders meeting for the G20 summit in Los Cabos, Mexico, expressed growing alarm at the failure of European leaders to get a grip on the single currency crisis. The White House made it clear that it would not join in talks for a eurozone rescue package. It urged European leaders to agree on a deal in Brussels next week.
Read more ....
Updates: Eurozone crisis live: Markets fear Spanish bailout will top €100bn -- The Guardian
Updates: G20 Summit and debt crisis: live -- The Telegraph
My Comment: It's always the same story .... everyone wants money, and those remaining few who have it do not want to give it away.
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