WILL SPAIN be the next Greece?

UPDATE. More: "Spain Takes the Spotlight From Greece in Europe's Debt Crisis"

UPDATE II. And more: "Greece, Portugal and Spain €2,000 bn Combined Debt Is Systemically Important for Global Financial Institutions" .

Also: "Ex-IMF Board Member Sees Risk Of Euro-Zone Breakup From Contagion"

UPDATE III. David Ignatius on the disconnect behind Europe's financial free fall.