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government. That would likely cause far more pain for Europe than the financial messes in Greece, Portugal and Ireland, smaller economies that have received bailouts.
• Investors need all the reassurance they can get. They're already worried about what will happen when Greek voters go to the polls June 17. The Greeks could elect a government that will refuse to live up the terms of a $170 billion bailout. That could force the country to exit the euro -- an outcome that would raise fears that another, bigger European country might be next.
• "A significant part of this (bailout for Spanish banks) has to do with ring-fencing

Greece," says Jacob Kirkegaard, a research fellow at the Peterson Institute for International Economics in Washington. "This is enough to prevent added market contagion."
• Spain on Saturday asked the 17 countries that use the euro currency for money to rescue its banking system. European officials responded by offering to provide up to $125 billion to rebuild Spanish

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