First relief, then reflection. Investors greeted Spain's request for aid with glee only to lose their appetites upon a myriad of unknowns.

In a way, the bailout itself is a reminder of that you know, Spanish sovereign debt continues to be under a lot of pressure in the crisis of financing, this is due to the government sovereign would have been prohibitively high. Well up to 125 billion dollars, some say that Spain's bailout raises more questions than it answers. Indeed its government doesn't yet know how much money will be needed. But for the time being, the eruozone's fourth largest economy says it is solvent even if its banks are odd.

I am not going to get into stic arguments, what I know is Europe is going to make available to the financial, Spanish financial system that it needs to lend credit that will have to be returned.

Among the issues that yet to emerge, how to feed funds to Spain's financial sector without jeopardizing the country's credit rating. Also unclear the terms other eurozone members could impose and possible sources of friction with bloc's previous bailout recipients.

Spanish is sucking its second recession in three years, output is expected to shrink by 1.7% to the end of 2012 and ongoing crisis has wiped nearly 25% off the value of Spain's largest listed companies. Despite its call for aid, Fitch Ratings still downgraded two Spain's biggest banks to within a whisker of junk status and that in turn could make Spain's bailout yet more expensive before it even begun.

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