The Eurozone finance ministers got together and agreed to give – sorry, we mean ‘loan’ - Spanish banks 100billion Euros, which is 81 billion in real money (eg, British pounds).
Well, we say ‘got together’, but the whole deal was confirmed in a conference call, so Spain didn’t even have to show some ID. Crazy - it could have been Ireland, Portugal or Greece in disguise.
They say the conference call lasted two hours but when you deduct the inevitable European siesta and boozy lunch break we estimate the decision was actually made in 3-and-a-half minutes.
Some tabloid wags are calling the Spanish bailout the 'spailout' in an attempt to make the story sound sexy and interesting. It doesn’t really work though, does it?
We also heard someone on the news earlier describe the deal as "voodoo economics". We’ve no idea what that means but it cracked us up, as that's a line from Ferris Bueller.
Hang on a minute, the conference call apparently finished just before the Spain v Italy game kicked off. So Spain got the dosh and got to watch the match. Coincidence? We think not.
And just to rub our European noses in it, Spain will probably win Euro 2012 too.
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