A Gloomy Outlook For Spain

This article from Dr. Gloom, who is usually more right than he is wrong, provides some details on the banking problems in Spain.  He does not see how Spain can deal with its problems without economic growth.  Furthermore, he does not see how economic growth in attainable in its current situation.  The ECB will not be able to step into the void because it will not be permitted to do so by Germany, but also because the Spanish government does not want to turn its banks over to the EU.