Anyhow, it seems that huge bailout for Spain wasn't the answer after all.
MADRID (AP) — Euphoria over a lifeline of up to €100 billion ($125 billion) to rescue Spain's hurting banks morphed into a financial markets rout in a matter of hours Monday, as investors digested the still-undefined plan and became concerned the country may be unable to repay the new loans.So, let's see. The bailout is because the banks have loans outstanding that won't be repaid. So, having made that error, they are now getting bailed out from their folly. But it now appears that the markets are figuring out that, if the original loans can't be repaid, and there are no structural changes happening, how will this new $125 billion be repaid? Can anyone say "throwing good money after bad"? Why is this so elementary to the man on the street (aka OC) yet international finance wizzes think it's something different? I guess it's the number of zeros. I mean in the loan amount, not the people involved.
"Plenty of risk still remains in place, with question marks over the ability of Spain to repay the debt, especially, if the country fails to get back on the growth path, the outcome of the upcoming Greek elections and the perception of situation in Italy," Anita Paluch of Gekko Global Markets wrote in a note to clients.
In the video below Nigel Farage finds that even Red Ken Livingstone now agrees with him. Godzilla’s footsteps are now audible outside London. Livingstone says what everyone knew all along. The Euro was nothing but a set of handcuffs designed to bind countries to a “United States of Europe” project which Livingstone claims was meant ‘end war’ — and probably to end racism, stop climate change, foster gender equality, promote gay rights and all that good stuff as well. But handcuffs they were and they are pulling the countries towards disaster.
The bitter truth is that the European collapse is simply the consequence of Leftist fantasy politics. It is what happens when people realize that the ‘paradise’ they’ve been building is nothing but a deconstructed, demographically collapsing, hollowed-out and bankrupt shell of lies.
At some point, the German populace will rise up and say "Enough is Enough". How much damage will it take to their economy to drive home the point that they are being used?