While the focus is on Ireland, and there are insignificant talks about Portugal, they’re both relatively small in comparison with Spain, the Euro-zone’s fourth largest economy. Andy Jordan from the Wall Street Journal made a series of videos about the PIIGS countries. The video below discusses Spain’s issues – public and private debt, unemployment, housing bubble bust and more. Is it too big to bail? Back in May, there was a rumor that Spain would ask for a 280 billion euros of aid from the European Union. This is much bigger than the current program for Greece and the estimated figure for Ireland. The Greek plan is valued at â‚¬110 billion and the Irish estimates stand on â‚¬120. Spain is much bigger than both. Austria is already very reluctant to pay its share in the Greek bailout and Finland opposes a rescue plan for Ireland. It’s not just the anger about bailing out these countries. With Spain, it might be just impossible. The headline by the International Political Economy Zone: “Spain’s Too Big to Fail, But is It Too Big to Bail?” might be too accurate. Currently, the situation isn’t that bad – a recent bond auction in Spain, just on November 18th, was quite successful. The Euro rose after the success was reported. So, on one hand, Spain can still raise funds in the markets, but on the other hand, the Euro’s sensitivity to this auction shows that if future auctions fall short of expectations, the Euro will suffer. The Euro had quite a few volatile weeks. This is likely to continue as every day brings more headlines on the crisis. For the upcoming economic indicators and an updated technical analysis of EUR/USD, see the EUR/USD forecast. Update Nov. 22, 17:45 GMT: There is fresh information about credit problems in Spain. Joseph Cotterill, at Alphaville, reports that “it is becoming harder and more costly for Spanish banks to refinance their debt” Real estate boom and bust, troubled banks, credit freeze, high unemployment, growing debt, etc. Very similar to Ireland, just much much bigger. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next EUR/USD Expected To Jump On Irish Bailout Request Yohay Elam 12 years While the focus is on Ireland, and there are insignificant talks about Portugal, they're both relatively small in comparison with Spain, the Euro-zone's fourth largest economy. Andy Jordan from the Wall Street Journal made a series of videos about the PIIGS countries. The video below discusses Spain's issues - public and private debt, unemployment, housing bubble bust and more. Is it too big to bail? Back in May, there was a rumor that Spain would ask for a 280 billion euros of aid from the European Union. This is much bigger than the current program for Greece and the estimated… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.