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Spain is getting a bailout
Comments
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Thrugelmir wrote: »The Spanish (as yet) aren't nationalising the banks which is the case in Eire. So a different situation.
Bankia was part nationalised last month.0 -
In 1919, the French insisted on the Germans paying crippling reparations. Second time round, they didn't. Even politicians learn lessons sometimes.Graham_Devon wrote: »I'm sorry, but the way thay have treated Spain so differently to Greece is disgusting in my mind."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 -
Graham_Devon wrote: »The way they treat us,
What relevance does it have to us in the UK?
We're outsiders.0 -
They have not solved the problems though, just found another extra large sticking plaster.
And there is a limit to the size of plaster available for the festering sore, at which point amputation will be the only available option!There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Thrugelmir wrote: »What relevance does it have to us in the UK?
We're outsiders.
No we aren't. Whatever lies the government tells us, we will be paying for it.0 -
HAMISH_MCTAVISH wrote: »
Did you really think they'd just let it all collapse into chaos?
Why prolong the inevitable.......0 -
What's more, you give one country favourable treatment and pretty soon others will be asking for parity....Ireland seems to be the first up to the [STRIKE]plate[/STRIKE] begging bowl....
Ireland wants to renegotiate its rescue plan to benefit from the same treatment as Spain, which looks set to win a bailout for its banks without any broader economic reforms in return, European sources said on Saturday.
"Ireland raised two issues: one is the need to ensure parity of the deal with Spain retroactively on its bailout from EFSF," one European government source told AFP, referring to the temporary rescue fund, the European Financial Stability Facility.
AFPThere is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Are you saying the Irish property crash wasn't the main cause of their problems?
The crash was the trigger. The size of the Irish banks balance sheets in relation to the economy was the issue. Much in the same way that RBS was in the UK. RBS itself having a significant exposure to Irish mortgage debt.
There's an unwinding going on globally throughout the banking system.0 -
It appears that Spanish prime minister Mariano Rajoy doesn't believe that it's a bailout? He reckons that it's “the opening of a credit line” :rotfl:
I loved a post on The Telegraph website following his comment:
"That's right, squire, it is not a full bailout! It looks like a duck, waddles like a duck, swims like a duck and quacks like a duck. Yes, of course it's a kangaroo!" :rotfl:There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
worldtraveller wrote: »It appears that Spanish prime minister Mariano Rajoy doesn't believe that it's a bailout? He reckons that it's “the opening of a credit line” :rotfl:
It took over six months for UK Treasury team to get to the bottom of Northern Rock. Then decide the only route was to nationalise the bank. As it was unsustainable as a trading operation.
So you can hardly expect a politician to know what he's talking about.
The external audit of the banks may paint a very different picture. JP Morgan are suggesting that potential liabilities are much much greater.0
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