Summary of Prediction 14: The New Bailout

Prediction 14 is unfolding

Prediction 14, posted April 24, 2012 reads: Spain will need a bailout from other nations as its economic woes are worse than expected.  Historically it will seem similar to Greece.

BBC Reported on May 25, 2012:  Spain’s Bankia seeks 19bn-euro bailout from government.Spain’s fourth-largest bank, Bankia, has asked the government for a bailout worth 19bns euros ($24bn; £15bn).Bankia is now saying it made a 2.98bn-euro loss for 2011 rather than the 309m euros in profit it announced in February.

Regional Trouble; The health of Spain’s banking system is key to whether the country eventually needs to seek a bailout itself from the eurozone and the International Monetary Fund.

This prediction is still unfolding. But when reading through this article by BBC its clear that “its economic woes are worse than expected” in this case the bank reported more positive numbers and is now saying its in worse shape than previously reported.

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