Re: Re: Should Rajoy get a move on and get Spain out of the Euro

#107045
peterhun
Participant

@Ardun wrote:

When the shit hits the fan none of that stuff matters. Just look at Iceland they changed their loans by force into their own currency and the same could be done in Spain.

Not true, external debts are still in Euro’s and the government uses capital controls to seize hard currency to pay the interest. They refused to support the banks debts and foreign bond holders lost most of their bonds but they did enforce a conversion of debt into local currency.