Preparation Key for Corporations Doing Business in Europe
Daily Business Review
November 7, 2012
Daily Business Review (Nov. 4, 2012).- Despite the best efforts of the Spanish people and Prime Minister Mariano Rajoy, the European Union will almost certainly need to bail out Spain, the fourth-largest Eurozone. Rajoy is reticent to join the ranks of other member states bailed out by the European Union, European Central Bank and International Monetary Fund, together known as the Troika.
This potential government rescue follows the Spanish bank bailout by Brussels this past June. Brussels recapitalized the Spanish banks as reduced confidence in the Spanish economy led to an increase in capital transfers from Spain to safer locations such as London and Germany.
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