Re: Re: How long to a full bailout


@Igurisu wrote:

According to Sr de Guindos, Spain does not need a bailout, all breath a big sigh of relief 🙂

Yes, that report is similar to this one

de Guindos tried to put across the message that Spain is actually rising to difficult challenges in the corporate area, particularly in exports “Spanish exports have increased by 70% since 2001…the same as Germany”. But of course this message gets ignored and isn’t reported when he makes the claim that no bail out is needed.
In a very small sense he’s right, in that Spain is already 90% pre-funded for this year, and could stagger on its reserves for a couple of months if absolutely necessary. But everyone knows that if the cost of borrowing shoots up again, then they will be ultimately reliant on ECB credit.