That Spanish banking bailout..

Here is Evans-Pritchard from the conservative The Telegraph

Debt crisis: Europe’s democracies must not subcontract their destiny to the Bundebank – Telegraph

Evans-Pritchard has been right on the money all through the euro crisis, as far as we are concerned.

And here another take on the Spanish situation

Darkness At Noon In Spain – Seeking Alpha

Or it can just simply be summed up in one graph, the 10 year Spanish bonds today: