How to afford bailouts for Italy and Spain
European Central Bank (ECB) President Mario Draghi speaks during the monthly news conference in Frankfurt August 2, 2012. REUTERS/Alex Domanski
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Until now, markets had assumed that Rome and Madrid were too big to bail. But the European Central Bank’s pledge to restart bond buying for countries that seek help could keep the bill below 300 billion euros. That would make rescuing the countries a bit easier.
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