Regardless, the opening of next weeks markets will probably be buy the rumour, sell the fact. We have been seeing slight short covering rallies on Friday's before the weekend. Most funds reporting do not want to hold any positions over the weekend due to news announcements like yesterday's.
A very interesting article on how Spain is the new Greece and is actually a much bigger problem: http://www.zerohedge.com/news/spain-greece-after-all-here-are-main-outstanding-items
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