Facts belie Spain’s solvency claims

Government insists it does not need a bailout despite withdrawal of $100bn from banks in the last two months.

More than half of Spain’s youth under 25 are unemployed and almost five million of the country’s citizens are now on unemployment benefits.

But, while private depositors and investors have withdrawn more $100bn from Spanish banks in the last two months, the government continues to insist that it is not on the verge of insolvency and does not need an international bailout.

Jonah Hull reports from Madrid.

Source : Al Jazeera

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