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Spains borrowing costs hit 7%

13

Comments

  • lvader
    lvader Posts: 2,579 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    People still aren't ready for the level of cuts that are needed to get things in order. So the only answer is to try to drag it out for longer.
  • jobdone1
    jobdone1 Posts: 841 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    all i see is years of pain no country should have been governed this way but the people in charge they never come across as ordinary people that have lived day to day life like all of us
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Graham_Devon wrote: »
    We can't just invent trillions Hamish,

    That's what it will take. €2.3 trillion to be precise.

    And they'll get there eventually, because there is no other way out. But they'll try everything else first, until they're finally forced to do the right thing.
    What it will take, is ending this project.

    Yeah, that's not going to happen.
    “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”
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Spanish bonds back above 7% after, after a recent fall back due to the new EU plans.

    Looks like they lasted 2 weeks.
  • Wookster
    Wookster Posts: 3,795 Forumite
    Hopes of a quiet summer are dashed.
  • Mrs_Bones
    Mrs_Bones Posts: 15,524 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    edited 9 July 2012 at 1:13PM
    Graham_Devon wrote: »
    Spanish bonds back above 7% after, after a recent fall back due to the new EU plans.

    Looks like they lasted 2 weeks.

    That's a week longer than I thought they'd last. The markets seem to like the last plans, but it's slowly dawned on them that nothing can be sorted for about a year. Question will the markets wait that long and can Spain hold on till help arrives or will it go kaput before then? it's not looking good at the moment, time for another summit maybe?

    In the mean time it's all on quite on the Greek front, yet we all know the problems are still there.
    [FONT=&quot]“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=&quot][/FONT]
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Mrs_Bones wrote: »
    That's a week longer than I thought they'd last. The markets seem to like the last plans, but it's slowly dawned on them that nothing can be sorted for about a year. Question will the markets wait that long and can Spain hold on till help arrives or will it go kaput before then? it's not looking good at the moment, time for another summit maybe?

    In the mean time it's all on quite on the Greek front, yet we all know the problems are still there.

    The summit has already been planned. Happening tommorow.

    The plans from the last summit are already at risk, as northern countries are suggesting they are not happy to go down the collective debt route, and put themselves at risk on behalf of southern nations.
  • The_White_Horse
    The_White_Horse Posts: 3,315 Forumite
    until the EU powers that be realise that chucking some cash at it doesn't fix the issue it will never be resolved. so 80bn bought them two weeks. big deal. the problem is, investors know that spain is up the creek without a paddle and a few bn here and there (that just adds to the overall debt) is not helping.

    its like buying a house which you know is full of cracks, yet the owner simply paints over them. You all know they are still there, so you won't buy it without a massive discount.
  • purch
    purch Posts: 9,865 Forumite
    The_White_Horse wrote: »
    so you won't buy it without a massive discount.

    I'm sure Mr Ree would buy it at 10% over the asking price :eek:
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • The_White_Horse
    The_White_Horse Posts: 3,315 Forumite
    purch wrote: »
    i'm sure mr ree would buy it at 10% over the asking price :eek:

    rejoice!!!
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