Think Greece Is Scary? Now Get Ready For Spain

And Now It's Time For Europe's Main Event: Spain

Everyone agrees  Greece is over!

And as Irwin Stelzer at WSJ argues, it's now time to shift our focus to the main event in Europe, which is Spain.

http://online.wsj.com/article/SB10001424052748703915204575103310374127910.html

Before waxing ecstatic over Greece's ability to flog some bonds, remember this: Greece is a sideshow. Spain is the main event.
Its economy, the euro zone's fourth largest, is five times the size of Greece's, and almost twice the size of those of other financially struggling countries — Greece, Ireland and Portugal — combined.
So it matters that Spain's socialist prime minister, José Luis Rodríguez Zapatero, seems to be an admirer of Charles Dickens's Mr. Micawber.

The big rollover comes in July.