There's A Spain Bank Bailout Request Headline Going Around That's Causing Folks To Get Confused

Mariano Rajoy

Photo: flickr / Partido Popular de Cantabria

ALERT: There’s a headline coming over wires about Spain requesting a bailout, and it’s confusing people, because everyone is waiting for Spain to request a bailout and have the ECB buy its debt. But that’s not what this is.It’s related to the old bailout of the banks that was discussed this summer.

From Michael Block of Phoenix Partners:

*SPAIN MAKES FORMAL REQUEST FOR EU BANK BAILOUT FUNDS: REUTERS  Folks, this is not the bailout we are looking for.  This part of it was known.  Repeat… this is not the fiscal bailout and yet stops are going off, etc.  Chase this at your own peril.

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