Spain's CDS Going Vertical

Spain's 5-year CDS spread is moving increasingly vertically. The Troika will need to act soon but it's anyone's guess which rabbit they will attempt to pull out of the hat. A supposedly "big" announcement over the weekend (Sunday night?) should not come as a shock. Regardless, further opportunities to kick this can down the road are becoming slim.

Related posts:
Crisis Events in Europe Speeding Up

Pain in Spain is Only Beginning

Nouriel Roubini - Get Ready for the Spanish Bailout

(h/t Zero Hedge)