Spain is in 'total emergency', the EU in total denial

http://www.telegraph.co.uk/finance/financialcrisis/9307106/Spain-is-in-total-emergency-the-EU-in-total-denial.html


Forget Grexit. Greece's teeny, tiny economy is a footnote now. As is Ireland's decision - which seemed more like a sigh of resignation than a plebiscite - to engage in however much self-flagellation the EU gods insist on, for however long it takes. What might have seemed dramatic a week or so ago has now shrivelled in importance by comparison to the realistic possibility of a spectacular crash in the fourth largest economy in the EU.