   BY Tim Edwards LAST UPDATED AT 10:05 ON Sun 10 Jun 2012
HOURS AFTER Spain announced it will request a loan - on
relatively painless terms - of up to €100bn to shore up its
ailing banking sector, fellow eurozone struggler Ireland has let
it be known it intends to renegotiate the harsh measures
attached to its own bailout, which it accepted in 2010.  While
the terms of any Spanish bailout are so far unclear, the
country’s finance minister, Luis de Guindos, says that any
measures imposed are expected to be limited to the financial
sector, sparing the country from further harsh austerity
measures.  Such an outcome would be in stark contrast to the
experiences of Ireland, Portugal and Greece, which have accepted
bailouts from the European Union and International Monetary Fund
in return for imposing draconian cuts on government spending.
If, as seems likely given the country’s size and therefore
bargaining power, preferential terms are extended to the
Spanish, the EU might find it has opened a Pandora’s box, b