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Spain is getting a bailout
Comments
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Spain hasn't got the huge deficit that Greece had.
The Irish may be a little envious though, because their situation was rather similar to Spain's."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
MacMickster wrote: »It appears that Spain have won the game of brinkmanship on this occasion, and it is the banks rather than the Spanish government that are going to be bailed out.
The Spanish (as yet) aren't nationalising the banks which is the case in Eire. So a different situation.0 -
Not the world's most insightful prophecy, but I'd just like to say 'I told you so'How nice it is to be a small country in the United States of Europe. If you are the Irish when the banks fail it is a Govt bail out and you just bend over and take it up the arris. The same thing in Spain is a bank bailout with few strings attached...Back on topic, we have had a lot of comment this week from DC, Obama and Osbourne that something is being hatched on the Euro front along with the will there/won't there be a meeting over Spain.
I think there will be a major announcement at the end of the weekend, probably a 100bn EUR Spanish bank bailout (by the ECB?) but who knows what else?I think....0 -
So how is this bailout supposed to work? Lending to the banks doesn't make them any more solvent.Thrugelmir wrote: »The Spanish (as yet) aren't nationalising the banks which is the case in Eire. So a different situation."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
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Are you saying the Irish property crash wasn't the main cause of their problems?Thrugelmir wrote: »Irish banks had an international exposure (i.e .UK mortgage debt) they weren't domestically orientated."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
I'm sorry, but the way thay have treated Spain so differently to Greece is disgusting in my mind.
This isn't anything to do with spain, it's about the Euro. The can survive just about with or without the Greeks, so they can be thrown into the fire. But spain could be the end game for the Euro, hence the different treatment.
It's pretty disgusting IMHO. Fallout gets closer each day
The way they treat us, the public is getting tiresome too. Denial after deinal of bailouts, only to come the next day and say "hey, look, a bailout".0 -
Graham_Devon wrote: »The way they treat us, the public is getting tiresome too. Denial after deinal of bailouts, only to come the next day and say "hey, look, a bailout".
Why are you surprised?
Did you really think they'd just let it all collapse into chaos?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »I'm sorry, but the way thay have treated Spain so differently to Greece is disgusting in my mind.
This isn't anything to do with spain, it's about the Euro. The can survive just about with or without the Greeks, so they can be thrown into the fire. But spain could be the end game for the Euro, hence the different treatment.
It's pretty disgusting IMHO. Fallout gets closer each day
The way they treat us, the public is getting tiresome too. Denial after deinal of bailouts, only to come the next day and say "hey, look, a bailout".
Greeces problems were caused by the government spending too much, i.e. the state is bankrupt. Spain had low debt and a surplus before the crisis started. The 2 are poles apart in circumstances.0 -
HAMISH_MCTAVISH wrote: »Why are you surprised?
Did you really think they'd just let it all collapse into chaos?
They have not solved the problems though, just found another extra large sticking plaster. The banks will now be able to keep running but the debt they carry and the problems of non existent growth, high unemployment etc in the country are still there.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0
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