Spain accepts the ransom of its banks
Jun 10th 2012, 8:03 pm
#31
Joined on April fools day
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Re: Spain accepts the ransom of its banks
Much the same reports as I must have read, Spain was always going to get a bailout, the sooner it accepted it, the better for all concerned, it would calm the markets. But most expats are paranoid where the UK press is concerned. Not sure why they bother reading it, stick to the Spanish press, you'll get the true picture there.
Spain refused to use the word "crisis" for a long time after everyone else was suffering one, same as they denied a rescate was ever going to be necessary. I'd like to think this amount would be sufficient, but I have a nagging feeling they'll need a lot, lot more.
Spain refused to use the word "crisis" for a long time after everyone else was suffering one, same as they denied a rescate was ever going to be necessary. I'd like to think this amount would be sufficient, but I have a nagging feeling they'll need a lot, lot more.
Jun 10th 2012, 8:06 pm
#32
Lost in BE Cyberspace
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Re: Spain accepts the ransom of its banks
http://www.abc.es/20120611/economia/...206071752.html
Jun 10th 2012, 8:16 pm
#33
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Re: Spain accepts the ransom of its banks
Jun 10th 2012, 8:23 pm
#34
Straw Man.
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Re: Spain accepts the ransom of its banks
Cyprus and Greece almost don't matter, to a degree neither does Portugal but Spain is Europe's 4th largest economy, it simply can't be allowed to fail.
Jun 10th 2012, 8:53 pm
#35
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Posts: 488
Re: Spain accepts the ransom of its banks
Too big to fail!!! Wasn't that the blackmail that the banks used to get themselves out of trouble? I hope now that Spain has been given this money - which of course falls on the ordinary man and woman of Spain as the Government has guaranteed it - they will no longer receive any more money from the EU (predicted to be about 5bn this year) and become a net contributor to the budget. Always a lot easier to manage if you are taking more out than you put in!
Jun 10th 2012, 9:22 pm
#36
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Re: Spain accepts the ransom of its banks
Although I don't believe them, they tell us a third of that will suffice for Spain, if that were true, that would be cheap.
Jun 10th 2012, 9:27 pm
#37
Forum Regular
Joined: Mar 2006
Posts: 288
Re: Spain accepts the ransom of its banks
You can see why SPain didn't have to sign up for more austerity measures then, thought you could buy the whole of Greece for 320 billion!
Jun 10th 2012, 9:30 pm
#38
Joined on April fools day
Joined: Mar 2012
Location: 30 miles from a decent grocery store.
Posts: 10,642
Re: Spain accepts the ransom of its banks
Is there enough for Italy and possibly France. Don't mean to sound doom and gloom but.... Is a soft landing a realistic possibility? Or just a wish.
Jun 10th 2012, 10:01 pm
#39
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Joined: Dec 2006
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Posts: 8,824
Re: Spain accepts the ransom of its banks
Much the same reports as I must have read, Spain was always going to get a bailout, the sooner it accepted it, the better for all concerned, it would calm the markets. But most expats are paranoid where the UK press is concerned. Not sure why they bother reading it, stick to the Spanish press, you'll get the true picture there. Spain refused to use the word "crisis" for a long time after everyone else was suffering one, same as they denied a rescate was ever going to be necessary. I'd like to think this amount would be sufficient, but I have a nagging feeling they'll need a lot, lot more.
Spain refused to use the word "crisis" for a long time after everyone else was suffering one, same as they denied a rescate was ever going to be necessary. I'd like to think this amount would be sufficient, but I have a nagging feeling they'll need a lot, lot more.
They are the experts at burying bad news!Read this Forbes article "Don't be Fooled"
http://www.forbes.com/sites/haydnsha...ont-be-fooled/
Last edited by jackytoo; Jun 10th 2012 at 10:06 pm.
Jun 10th 2012, 10:27 pm
#40
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Spain accepts the ransom of its banks
I don't know why the UK media gets a hammering re. spanish bailout. All the worlds media is saying the same. Now another bit of sticking plaster, same ole, markets up until it sinks in the eurozone is still in the shit then it's bail out talk again. To get a truer picture in the spanish press you have to read carefully. Last weeks downgrade was at the bottom of the page for a day They are the experts at burying bad news!
Read this Forbes article "Don't be Fooled"
http://www.forbes.com/sites/haydnsha...ont-be-fooled/
They are the experts at burying bad news!Read this Forbes article "Don't be Fooled"
http://www.forbes.com/sites/haydnsha...ont-be-fooled/
Jun 11th 2012, 12:20 am
#42
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Jun 11th 2012, 1:11 am
#43
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Jun 11th 2012, 4:00 am
#44
Lost in BE Cyberspace
Joined: Feb 2007
Location: Land of no recession
Posts: 10,720
Re: Spain accepts the ransom of its banks
A very successful bailout?
The markets are down
The Euro is down
More Spanish banks downgraded
Yes a very successful bailout.
The markets are down
The Euro is down
More Spanish banks downgraded
Yes a very successful bailout.
