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Gonzalo Lira on a Eurozone Marriage turned Orgy and a Latin American Divorce!

from CapitalAccount:

Welcome to Capital Account. Spain is poised to seek a bailout for its banks possibly as early as tomorrow, according to media reports. Different estimates put the money needed for a Spanish bank bailout at anywhere from 27 to 100 billion euros. Meanwhile, figures show Greece’s economy shrank at a rate of six-point-five percent for the first time in three months this year. There appears to be a collapse going on regardless of what Europe’s technocrats and politicians say. What is this going to look like? Well, Gonzalo Lira says he’s seen this all before in Latin America. He’ll take us back to Chile in 1983. He is joining us live from Santiago.

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