Spain asking for YET ANOTHER bailout on Monday! Official now!

Spain to request for bailout: Minister

Spain's Economy Minister Luis de Guindos on Friday confirmed that the country would officially ask for an EU bailout to recapitalize its banks on Monday. Spain will officially ask for the bailout, or loan as the Spanish government prefers to call it, by officially handing over a letter, said the minister. The letter, which contains the conditions, duration, quantities and interest rate of the loan, will be handed over on Monday," he said. "It is the contract that Spain will sign with its partners in which the conditions of the financial aid are established. We are seeing it as much more important than merely handing over a letter, " he said.

Asked whether the EU had requested an increase in sales tax from the current rate of 18 percent, the minister said that the Spanish government would bear the recommendations of its EU partners in mind, but that it would be the cabinet and Prime Minister Rajoy who made the decision. Raising sales tax would be hugely unpopular in Spain. It would be a further barrier towards the already low levels of private spending in the country and is something that De Guidnos had previously said he would not do in 2012.

Oh, but everything's going to be fine, really, it's all good, everything's under control.

So now we have a pattern emerging: denial=confirmation. "We don't need a bailout" = "We seriously need a bailout." "This bailout will cover it" = "This bailout will never be enough." "The Euro will survive" = "The Euro is seriously f**ked." "The dollar is strong" = "Buy gold" (LOL).

And last, but not least, "The US and/or dollar will never fall" = "I'm a shill for the status quo establishment." You can see them here, there, and everywhere. The last desperate insistence of superiority by those with too much to lose.

Got rice and beans?

reply to post by 00nunya00


And when exactly will the US be addressing national debt?

Dont forget that the US caused the GFC pal.

This is the making of the United States.

MSM can blame the Greeks and the Spaniards all they like, it is clear who needs to be cut loose.

The sooner the USD is unseated as Reserve the better. I wonder if we will bail America out? Maybe we shouldnt since most Americans do not care about the poor Europeans.

And last, but not least, "The US and/or dollar will never fall" = "I'm a shill for the status quo establishment." You can see them here, there, and everywhere.

That is not directed at anyone in particular, eh?

And yes... when Spain says they don't need a bailout... and even mentions bailout in a sentence... they need a bailout, lol.

And Italy is about 6 months to a year behind the Spanish Cycle, wandering into the same waters soon. Latin countries have to stick together, afterall!

The Temple is burning. The game is really to see how long you can deny there is a fire... if you can deny there is a fire WHILE YOU ARE ON FIRE, it is worth extra points... Spain is a star player. The US is another star player.

Originally posted by Germanicus
reply to post by 00nunya00

 

And when exactly will the US be addressing national debt?

Dont forget that the US caused the GFC pal.

This is the making of the United States.

MSM can blame the Greeks and the Spaniards all they like, it is clear who needs to be cut loose.

Hey, you won't find me denying America's huge majority part in this. I never implied so, either. But there's a damn good reason all of the derivatives trading went on in London, as the laws in the US against it were too tight. Furthermore, firms across the globe were selling these things left and right, not just American ones, hence the crisis being a global catastrophe. What started in America spread around the world.

We're all screwed, every last one of us. Even Iceland will pay for our sins, with or without a banking elite in power in their country. We're all going down.

The sooner the USD is unseated as Reserve the better. I wonder if we will bail America out? Maybe we shouldnt since most Americans do not care about the poor Europeans.

edit on 22-6-2012 by Germanicus because: (no reason given)

You won't have to wait long for a dollar crash, and I agree it should be unseated. But do try to remember the trillions of bailout dollars that was sent to European banks courtesy of the American taxpayer. No, the people wouldn't have supported it had they been told about it, but if the Fed asks for their money back from Europe we could hardly consider that a bailout, eh? Seems to me the US is funding its own bailout PLUS the bailouts of countless other European countries, so no, you're unlikely to see the US asking anyone outside its borders for anything more than bond and bill sales.

Originally posted by joeraynor

And last, but not least, "The US and/or dollar will never fall" = "I'm a shill for the status quo establishment." You can see them here, there, and everywhere.

That is not directed at anyone in particular, eh?

I see them on TV, I see them on ATS, I see them daily. There are a lot of people this is directed at!

And yes... when Spain says they don't need a bailout... and even mentions bailout in a sentence... they need a bailout, lol.

And Italy is about 6 months to a year behind the Spanish Cycle, wandering into the same waters soon. Latin countries have to stick together, afterall!

The Temple is burning. The game is really to see how long you can deny there is a fire... if you can deny there is a fire WHILE YOU ARE ON FIRE, it is worth extra points... Spain is a star player. The US is another star player.

And that's the funny thing, how would any normal person know it wasn't going to be okay unless they spent considerable time researching it and getting up to speed on where we are? Who has that time? I'm a stay-at-home parent, I have snatches of time here and there all day and night to do a little Googling and whatnot, but what about your average 9-5 Joe? There's hardly enough time left in the day after working to eat, bathe, spend time with the family and sleep, let alone research and self-educate on something as seemingly arcane as economics. They can do whatever the hell they want, because even if the MSM does try to break it down for the people, it seems like something you must just accept on faith because how do you know better than the fancy economists? They've turned economics into a Rube Goldberg machine.

reply to post by 00nunya00

Hey, you won't find me denying America's huge majority part in this.

Sorry. I get annoyed with so many sticking the boot in to the Europeans while they have been taken down.

Seems all the western nations are screwed.