Day: November 26, 2011

Britain was last night planning for the collapse of the eurozone as Spain weighed up a bailout that could cost UK taxpayers £5billion. The Government is preparing for the biggest mass default in history and the break-up of the single currency bloc. Analysts warned that euro meltdown would wreak havoc in the banking system and plunge the global economy back into recession. Whitehall sources said contingency plans are being drawn up – and indicated that Continue reading Now UK faces a £5bn bill to bail out Spain… as ministers plan for euro collapse | Mail Online→

Spain’s People’s Party (PP), due to form a new government by mid-December, is considering applying for international aid as one option for shoring up its finances, sources close to the party say. The PP inherits an economy on the verge of recession, a tough 2012 public deficit target, financing costs driven to near unsustainable levels by nervous debt markets and a battered bank sector with billions of euros of troubled assets on its books. But Continue reading EXCLUSIVE-Spain’s incoming govt may seek outside aid -sources→