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Page last updated at 08:41 GMT, Monday, 11 June 2012 09:41 UK

Eurozone: 'Italy will be next'


Markets in Europe and Asia have risen in response to the bailout of Spain's banks that was agreed over the weekend.

On Saturday, eurozone ministers agreed to lend Spain's banks up to 100bn euros ($125bn; £80bn).

Business editor Robert Peston told the Today programme that the money was another "sticking plaster".

"You can't go on little by little with these piecemeal solutions you need a grand solution," he said.

Luis Garicano, professor of Economics and Strategy at the LSE, said that the way the bailout is structured, the Spanish taxpayer is shouldering the burden.

Economist David McWilliams said that "the pattern is very simple" for the future of the Eurozone.

"The evidence from the last four years is that Italy will be next," he said.

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