11/26/12 – European Update

26 Nov

Solid thoughts from Commonwealth on the European situation…

The Independent Market Observer

I haven’t been writing much about Europe recently, and it’s not because there hasn’t been anything happening. There has been. But because most of it has been inside baseball, with little immediate effect (at least here in the U.S.), it hasn’t been as interesting as other developments here.

That largely remains the case, but it’s worth taking a look just to keep in touch with what’s been going on. The big news is that a bailout package for Greece is just about to be finalized. This will be the final bailout, as the Germans are having domestic political trouble getting approval for more cash.

Spain is also in economic trouble, but it’s delaying a request for a bailout because its regions continue to look to separate. Catalonia, for example, has just voted a majority of separatists into its regional legislature.

Germany is committed to continued austerity and is reluctant to…

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