If so, that is an understandable national(ist) reaction to exclusion at EU level and may work out fine if the Spanish financial system is strong enough to deal with the Spanish property bubble. It does nothing for EU members in a more vulnerable situation, nothing for EU cohesion and ongoing development, and nothing for a coordinated global response to the crisis.
In my view it reinforces my argument above that the lack of EU level leadership undermines the EU and risks provoking a resurgence of nationalism in member states as everyone rushes to protect their own patch with no regard for the impact on others. Vote McCain for war without gain
