The best guess is that, maybe sooner rather than later, Spain will be applying for a bailout from its partners in the euro-zone.
That would mean that Estonia, a remarkable post-Soviet success story, but still far from rich, will be chipping in to help out Spain.
Under the circumstances, it’s worth noting these comments from an Estonian opposition (Center Party) MP from a week or so back:
“In a situation where Estonia’s government debt is only 6.6 percent – but our child allowance is 19 euros a month, the average old-age pension is 318 euros per month and one-fifth of the population is living below the poverty line – it is understandable that many people in Estonia take a critical attitude toward lending to more affluent countries…’
Indeed it is.