Description: Spain’s financial woes deepened ominously Friday after a heavily indebted region asked Madrid for help and the government predicted more recession next year, prompting investors to dump stocks and government bonds.

Source: GlobeandMail.com

Date: July 20, 2012

Link: http://www.theglobeandmail.com/report-on-business/international-business/european-business/spain-financial-woes-worsen-as-bank-bailout-approved/article4429366/

Questions for Discussions:

• Explain the cause of the Spanish stock market drop?
• How are interest rates related to this story?
• Where do you think Spain and its banks are headed?