Spain Goes Bust!
source: http://www.politico.com/news/stories/0612/77233.html
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- Dagum
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http://www.politico.com/news/stories/0612/77233.html
Spain is the next domino to fall following bailouts for Greece, Ireland, and Portugal.Spain will ask for a bank bailout from Europe, becoming the fourth and largest country to seek help since the single currency bloc's debt crisis erupted.
Economy Minister Luis de Guindos said Saturday the aid will go to the banking sector only and so would not come with new austerity conditions attached for the economy in general.
He gave no figure as to how much Spain will request, saying that he would wait until independent audits of the country's banking sector have been carried out before asking for a specific amount.
De Guindos did say, however, that Spain would request enough money for recapitalization, plus a safety margin that will be "significant."
The money will be funneled through an existing bailout fund called the FROB.
The prospect of Spain—in addition to Greece—collapsing have sent shudders around the world, fueling a global slowdown that in addition to hitting China and India now appears to have hurt job growth and the stock market in the United States....
Continued at:
http://www.politico.com/news/stories/0612/77233.html
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- groups:
- Community, News and Politics, Politics, Greatest Depression, 3 more
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- tags:
- Bailout, Spain, Debt, Bankruptcy, 1 more
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Mark701
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Spain will ask for a bailout from Europe? Who's going to bail Europe out when all the individual countries that comprise Europe fold?
- 11 months ago
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Mark701
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Dagum
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Mark701:
Unfortunately, I suspect it will be Ben Bernanke and The Federal Reserve.
The Fed bailouts will be called "currency swaps" and the public won't know any better.
- 11 months ago
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Dagum
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Des_Akkari
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when can we start printing money for ourselves????
- 11 months ago
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Des_Akkari
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sharpaudio
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Des_Akkari:
Hard work is better than printing money. Print all you want, it's not worth anything if you have nothing to show for it.
- 11 months ago
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sharpaudio
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sharpaudio
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sharpaudio:
oh, and I get voted down. sad.
- 11 months ago
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sharpaudio
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Dagum
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sharpaudio:
voted you back up. ^+
Des_akkari's comment is ambiguous.
- 11 months ago
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Dagum
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Dagum
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Des_Akkari:
"Printing" as in fed printing or "printing" as in the U.S. People issue money through the treasury debt free?
- 11 months ago
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Dagum
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Mishima [removed]
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Des_Akkari:
{when can we start printing money for ourselves????}
If Obummer gets re-elected, that will be the next step.
- 11 months ago
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Mishima [removed]
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sharpaudio
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Mishima:
I would be happy to turn you in to the authorities. What you are advocating is not only greedy and immoral... it's also illegal :)
- 11 months ago
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sharpaudio
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Des_Akkari
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sharpaudio:
I am sure it is hard work to print up a trillion notes of paper....what I meant is how is it that every single industrialized nation is bankrupt yet there are still more bailouts be handed out. They can bail themselves out of the monopoly money problem but somehow we (general populous) cannot even get more jobs to be made available. I would love a nice 0% loan with no default clause.
- 11 months ago
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Des_Akkari
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Mishima [removed]
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sharpaudio:
What? The government prints money, and I certainly ain't advocating it. It sounds like you think I am referring to individuals printing money. You are injecting some kind of ideology into this; I referred to the government. It is destructive and ruinous. Do you know how it is ruinous?
Well, it is one way that the government reduces its debt. Say there is huge inflation: Basically, everything goes up. However, those in debt actually benefit. Do you know how?
- 11 months ago
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Mishima [removed]
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Dagum
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Mishima:
And those with savings get screwed.
- 11 months ago
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Dagum
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Mishima [removed]
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Dagum:
"And those with savings get screwed."
Yes. Super-high Liberal inflation, and the debt goes down. And the hard-earned savings of the working people (non-government productive people), loses value.
But the Left-wingers can keep their social programs, welfare, and claim that Lord Obummer reduced the debt!
- 11 months ago
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Mishima [removed]
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warman1138
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International banking at its finest.
- 11 months ago
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warman1138
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Dagum
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warman1138:
Yup ^+.
- 11 months ago
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Dagum
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Mishima [removed]
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warman1138:
Socialism and big government (and people being Liberal-style dependent on the government) at its finest.
- 11 months ago
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Mishima [removed]
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trut
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Everyone wants to shakedown Germany again.
- 11 months ago
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trut
