Re: Re: Why did Ireland bother? Don’t they have Trojan horses?


Spain issues defiant warning to markets
By David Oakley in London, Quentin Peel in Berlin and Nikki Tait in Brussels

Published: November 25 2010 19:47 | Last updated: November 26 2010 11:41

Spain has warned financial traders betting against its debt that they will lose money, in a defiant challenge to the markets which are driving Madrid’s cost of borrowing sharply higher.

José Luis Rodríguez Zapatero, Spanish prime minister, on Friday ruled out any rescue package for the country even as the premiums demanded by investors to hold Spanish sovereign debt over that of Germany’s rose to euro-era highs.

“I should warn those investors who are short selling Spain that they are going to be wrong and will go against their own interests,” Mr Zapatero said in an interview with Barcelona-based broadcaster RAC1, according to Bloomberg. He “absolutely” ruled out any need for a rescue.


If Zapatero is denying it, it must be true.