As if Europe weren’t already weary of bad news, here’s more: The Spanish Prime Minister is begging Brussels to ease his country’s deficit-reduction targets, only one day after an international agreement on a massive bailout fund for his government. Based on a recent European Commission forecast of declining growth in the coming year, Spain believes that it cannot meet the established targets, and is using an age-old excuse for its cop out: “everyone else is doing it.” Even the strongest European countries have been hit hard by austerity-based cutbacks and uncertainty over the credit crisis, and Spain is no exception. Youth unemployment is soaring, and as in Greece, the public vehemently rejects cuts aimed more at helping foreign bankers than restoring their own country to health.This is horrible news for Europe. The lack of a coherent policy solution has paralyzed the continent, and with government credit ratings inching downwards, righting the ship will become more difficult with each passing day. Painful cuts and sluggish growth have sharpened acrimony throughout the Union, making compromise that much harder to achieve. At some point, the union could be broken beyond repair. That point may be much closer than people think.