Ireland went through a debt crisis recently and now Portugal recently applied for bailout.
They are predicting if Spain were to ever apply for bailout, it would be dramatically bigger than Portugal. However, there are other countries in deep in debt within the European Union. They report if Italy were to apply for a bailout, the EU would not be able to handle it. The Financial Times reports, Berlusconi does not help Italy's economic state with his legal trouble and mockery. Germany is extremely concerned with sharing the EU with Italy.
Richard (RJ) McNichols
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