Re: Re: Eurozone Dominoes Falling!



Luis de Guindos the finance minister said in his press conference today that this now €100bn will not be a bail out of Spain’s economy!
What a laugh. This €100bn will be added to the national debt balance sheet and further increase the chances of Spain defaulting on it’s existing debt obligations. They have simply found another lender willing to pump in liquidity. There is no mention yet of the rate the EU will demand on this new debt either or when they expect it returned or what strings will be attached.

The markets tomorrow will not buy it for a second. I expect Spanish bond yields to rocket.

A country cannot just pile up debt upon debt and expect no one to notice.