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Spain Requests $125B Bank Bailout

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  • Description

    FBN’s Ashley Webster on the state of the Spanish economy and banking sector.

  • Duration 1:54
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Last Friday meanwhile Spain has formally requested a bailout for its banks some put it at 300 billion dollars plus.

Actually.

Actually west he is in Spain I wanna ask you you're in them in in Athens Greece last week.

I UK -- -- ground -- all reports on what it's like to be in a big city this in the middle of a depression.

Right now believe you're in Madrid I -- -- ground full report on what it's like to be in a city in the middle of an intense down to tell us.

Yes very interesting to -- it it is very obvious in Athens when you walk around that this country that that country is in bad shape there are many -- shut down.

Shot to that they covered in graffiti.

The people are very very concerned worried it's very on easy you come to Madrid Spain.

-- -- city of about 3000006.

Million if you include the suburbs.

And you get absolutely no sense that this country is in any trouble little the affluent streets of Madrid.

Even the middle class streets of Madrid everyone going about their business the stalls are very crowded money is exchanging hands.

Tourism is much bigger here I hear a lot of brits I hear a lot of Germans here in Madrid.

It's when you actually stop people and stop talking to them -- get a sense of what it's like.

Many of them out of work one in four they are concerned they blame the banks they hate the politicians they don't believe anything that's old.

I think that's true the world over and I spoke to a computer program this week and have been out of work for two years.

He said he's very upset with the Spanish attitude that itself the -- -- edited out we'll do that tomorrow we just wanna have fun today he said.

The work ethic is a huge problem in this country.

And he's gonna have to move out of the -- he believes in order to find work.

-- it is fascinating and Ashley Webster is right in the middle of it thanks very much -- will back to light on that Vienna and this day.

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