Morningstar Spain's Fernando Luque explains the reaction in Madrid to news of a bank bailout, further problems facing European governments, and a potential outcome for the eurozone.
Germany is hitting negative sovereign yields, while Spanish regions and banks seek financial assistance from their parent country, which needs a bailout of its own.
The weak European economy is allowing firms to unlock extra value via restructurings and spin-offs, but it's better to invest while firms are still cheap conglomerates, says Evermore's David Marcus.