Spain bailout fears peak after black Friday
- Published: 22 Jul 2012 at 10.48
- Online news: World
A eurozone bailout for Spain's banks and a tough batch of pay cuts and tax hikes have not been enough to save the country from the risk of a full-blown bailout, analysts warn.
A man holding a placard reading " If you want to win, fight without resting" takes part in a demonstration against the Spanish government's latest austerity measures, in Madrid, July 21. A eurozone bailout for Spain's banks and a tough batch of pay cuts and tax hikes have not been enough to save the country from the risk of a full-blown bailout, analysts warn.
Squeezed between public outrage at its austere economic reforms and pressure from European authorities to strengthen its public finances, the government has run out of ammunition.
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