Philip Roesler, German economy minister reiterates that if Greece doesn’t deliver on its austerity budget, it won’t receive any more bail-out cash. An Italian think-tank says that if Greece leaves, other Clubmeds will give up.
Spanish bank depositors rush out to withdraw yet more cash on the news. The net worth of Spanish mattresses is estimated by Bloomberg to be €200bn. Valencia’s need for cash leaps from €3.5bn to €4.5bn. Continue reading