News Spanish bailout

[rynnor]

Apparently a German newspaper is reporting that the ECB will give bailout money to a Spanish fund set up to reform the banks so that Spain can save face and avoid harsh austerity cuts.

 

[ECA]

Now they just need to introduce eurobonds and europe is truly fucked.

 

[cHodAX]

Great so now we have to fund the spanish bank bailout as well, fucking wonderful.

 

[rynnor]

We already were in reality - the ECB has been buying up Spanish Bonds for the last year or two to try and keep the yields down.

 

[Raven]

I wish they would just let it die, the longer they keep it alive the more damage it will do when it collapses, and it will do!

 

[- English -]

off to Spain in a few weeks for a fortnight, anything to be cautious of?

 

[Zarjazz]

Rabies?

 

[DaGaffer]

off to Spain in a few weeks for a fortnight, anything to be cautious of?

Donkey attacks?

 

[ECA]

off to Spain in a few weeks for a fortnight, anything to be cautious of?

When someone hands you a scratchcard and you win, don't go with them to the free "not a timeshare" presentation.

 

[Vasconcelos]

If I were an EU citizenship (other than spaniard) I would be wondering why our leaders arent issuing to the EU courts, the proper demands against the spanish politizians and their corrupt use of EU funds.

Hint: if the ECB rescues Bankia, you should know that part of your money is going to fix the financial hole that the "friends" of the current (and former) governerment have made in a semi-public bank (their boards are partly formed by regional politizians). And when I say "hole" I not only mean failed specualtion, Im talking about fraudulent use, financing stupid works for the benefit of friends, illegally financing political parties such as PP or PSOE, and this is just the begging of a long list.

You will be paying their 40.000M € worth of mistakes as a private company (semi in this case) while they never shared their benefits with you during the past bonanza years.

My 2 cents

 

[Job]

Oh and RBS have just discovered a 40 billion quid iou at the back of the vault, so they'll be asking mr and mrs taxpayer for another bailout. first call should be that twat sir fred who has to be the mother of all brazen necks.

 

[TdC]

off to Spain in a few weeks for a fortnight, anything to be cautious of?

the guardia. the sense of humor has been bred out of them.

 

[old.user4556]

I quite like the secret "switch back to all our own currencies overnight" fix.

 

[rynnor]

Edit to make a logical order:

Hint: if the ECB rescues Bankia, you should know that part of your money is going to fix the financial hole that the "friends" of the current (and former) governerment have made in a semi-public bank (their boards are partly formed by regional politizians). And when I say "hole" I not only mean failed specualtion, Im talking about fraudulent use, financing stupid works for the benefit of friends, illegally financing political parties such as PP or PSOE, and this is just the begging of a long list.

Your talking about Cajas right? Little banks being run by Politicians (which is crazy - you cant trust politicians near money) that got into trouble so grouped together to form Bankia so that they could be bailed out by the Spanish Government?

What I don't get is can the Central Government control the budgets of the Regions?

 

[ECA]

The euro is on the clock, it's only a matter of time. Unless the egos of european politicians is greater than any sense of responsibility to their citizens. So probably europe is fucked for the next 30 years.

 

[old.user4556]

Such a "light at the end of the tunnel" guy ECA .

But you're right .

 

[ECA]

They could always go balls in United states of europe style ( which is what the EU decided to do over the last 20 years ) with euro bonds and monetary union. Then I'll be laughing my fucking ass off.

 

[cHodAX]

Time to stock up on dry goods then.

 

[rynnor]

How could the EU stability fund - setup to bail out EU members in trouble - give money directly to some dodgy Spanish Bank when the Irish had to take austerity to get a bailout for their dodgy bank?

 

[Job]

There is the slight problem of the total destruction of the banking system if the Euro fails, it will without doubt end in Europe wide riots, maybe war as hundreds of millions of people see their savings and wages wiped out.
Europe is the closest to war right now since the 1930's, if the Euro fails I'm buying a machine gun, 2 years of food and a tent in the Scottish Highlands.
As ThomasJefferson wrote:
The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens.
And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

 

[ECA]

"The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating."
- Thomas Jefferson

"I hope we shall crush in its birth the aristocracy of our moneyed corporations, which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country."
- Thomas Jefferson

"We are undone, my dear sir, if legislation is still permitted which makes our money, much or little, real or imaginary, as the moneyed interests shall choose to make it."
- Thomas Jefferson

The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.

I <3 Jefferson, quoted it before.

 

[rynnor]

Europe is the closest to war right now since the 1930's, if the Euro fails I'm buying a machine gun, 2 years of food and a tent in the Scottish Highlands.

You wouldn't survive a single winter in the highlands in a tent tbh.

 

[Job]

You ain't seen my sleeping bag.

 

[Chilly]

You wouldn't survive a single winter in the highlands in a tent tbh.

Rubbish. Good tent plus good clothes and supplies and you'll be fine.

 

[rynnor]

Rubbish. Good tent plus good clothes and supplies and you'll be fine.

Food + Tent was the original premise - sure if you took a ton of other supplies you could do it but with just food and a tent?

 

[old.user4556]

http://uk.thenorthface.com/tnf-uk-en/men-s-himalayan-suit.html - that'll do it.

You're all invited to my place.

 

[Job]

Actually I'm more worried about the midges

 

[rynnor]

Tbh - if it all went to hell your biggest risk would be from locals killing you for supplies...

 

[ECA]

And this global breakdown risk is why they will eventually suck it up, go eurobonds and commit to 50 years of economic stagnation.

 

[Job]

That 's what the machine gun is for.