I think you can consider Spain shut out of the debt markets

I wouldn’t trust anything now until they have a program in place with the ECB.
The Spanish Bank Bailout – What to watch for

The best hope for stabilizing the banking system is an equity capital infusion that is essentially converting German and French borrowing power into equity investments, followed up by more cheap lending to the banks by the ECB.
Spanish Bank Bailout Analysis – According to EFSF FAQ

Our thoughts on the FAQ and what it means – decently positive.
Spain: Nothing and Everything. Details Examined.

The temptation to fade this Spain deal is high (and higher after Rajoy claimed victory and jetted off to the football match).
Why a Grexit Would Make Lehman Look Like Childs Play

The more they look at the situation, the more I am convinced they will see not only how potentially awful the situation becomes, but that the cost to avoiding it right now are relatively small, and with proper preparation a Grexit can be managed down the road.
Spanish Bonds – Austerity, Spending, and Reality

Debt restructuring is the only way to get the debt under control and allow the policies of spending and austerity to work over time.
What Is Regulatory Capital?

Maybe it is also time to step back and think about what capital is supposed to do, and with that as a guideline, think of rules that make sense.
Germany wants to know if Ace, 2, 3, 4, 5 is a good hand

Germany will have to change their tone or risk being the ones seen responsible for breaking up the Eurozone and causing strife across Europe.
Europa no fue destruida en un día

¿Qué fecha utilizarán los historiadores para señalar el fin del euro?
Europe Wasn’t Destroyed in a Day

Just like Rome wasn’t built in a day, the Eurozone won’t be destroyed in a day, but it is on a path that leads to eventual dismantling.