Spain on top-10 state bankruptcy threat list

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    • #55962

      Not sure where this article comes from – it was sent in by email:

      Spain has now entered the top ten countries most likely to go bankrupt
      according to the latest information as the sale of the Spanish debt bonds on
      the international markets has taken a considerable beating. According to the
      CMA research company, Spain has a 21% chance of going bankrupt, putting it
      on a par with Ireland and Greece in the European Union, yet representing a
      lesser risk internationally that the financial situation in the state of
      Illinois, or Dubai or Ukraine. Overall the top ten risky countries are
      Greece (52% risk of bankruptcy),Venezuela (49,94%), Ireland (40.74%),
      Argentina(34.99%), Portugal(33.80%), Pakistan (33.75%), The Ukraine(29.96%),
      The Emirate of Dubai (24,86%), The State of Illinois (21.15%), and Spain

      Meanwhile it has been revealed that Spain is causing headaches in Barclays
      Bank that has had to make provision of 228 million Euros in the third
      quarter of this year to cover doubtful credits. All in all Barclays has had
      to provide 870 million Euros this year as provision against these possible
      bad debts.

    • #101480

      Greece (52% risk of bankruptcy)

      Greece has billions of euros of untapped oil and other natural resources embedded in its waters.

      A project funded by the Greek Secretariat for Research and Technology, undertaken by the Technical Universities of Crete and Patras, has estimated that in the waters around the island of Crete alone there is 300 billion euros worth of methane gas. It’s 90% methane/10% nitrogen – almost pure so barely any ‘treatment’ required.

      But they can’t tap any of it due to pressure/agreements with the USA signed 20 years ago. All in the name of politics/need for NATO bases here re. approximity to Middle East/American-backed ‘Greek’ Prime Ministers and political families etc.

      The current one, Papandreou, is American born and educated and didn’t even come to Greece until he was 22yrs old, hardly able to speak Greek. He’s only where he is because of ‘family connections’ (father and grandfather previous Greek PM’s) as is usual with politics here.

      A travesty of justice for the Greeks who are suffering horribly at the moment all because of ‘politics’, dirty deals and outside vested interests.

      Sorry Mark, just had to get that off my chest. Back to Spain being in a better position than Greece re. going bankrukpt……

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