I do think there is a large dose of financial market hysterics going on over Spain at the moment.
Since Rajoy took over he has made amazing efforts to deal with the debt issues left behind by the now discredited and disgraceful Zapatero government.
The markets are not prepared it seems to give these austerity measures a chance to work. The Spanish regions were always a nasty accident destined to happen. The markets have always known that, yet here we now see them crying ‘havoc’.
I don’t buy it.