Spanish PM Mariano Rajoy rejects the notion that the nation's banks should go cap in hand to the...

Spanish PM Mariano Rajoy rejects the notion that the nation's banks should go cap in hand to the EU bailout fund, an idea that Francois Hollande apparently floated, although Rajoy is skeptical that he did. Another report says Spain turned down EU pressure to accept an IMF credit line to help strengthen the banks.

Comments (12)
  • 544
    , contributor
    Comments (29) | Send Message
    Soon enough the banks in Spain will ask for bail out, it is a matter of time. Lending builders for home constructions which no one buy and depositors withdrawal of money from the bank will force the bank to borrow.
    20 May 2012, 08:54 AM Reply Like
  • CautiousInvestor
    , contributor
    Comments (3090) | Send Message
    No surprises here. European leaders, moved by denial and hubris, have consistently and belatedly identified problems and adopted insufficient corrective efforts guided more by politics than economics.
    20 May 2012, 09:02 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9903) | Send Message
    Yes absolutely true in the EU and US as well. It is the same everywhere. More about protecting the status quo than it is about real leadership and taking policy and structural actions that will truly improve economies and the lives of most of a countries citizens.
    20 May 2012, 12:04 PM Reply Like
  • Regarded Solutions
    , contributor
    Comments (20531) | Send Message
    the money will be printed the rest is all BS.
    20 May 2012, 09:58 AM Reply Like
  • srspa77
    , contributor
    Comments (325) | Send Message
    Just print the $$$$ already. Let's go ECB and Ben!
    20 May 2012, 12:21 PM Reply Like
  • shild
    , contributor
    Comments (52) | Send Message
    America (after CA) will be in the same boat sooner or later just as Greece, Spain, Ireland etc -- UNLESS we can cap our spending on social programs (all types of social spending and mainly on food stamps, rent subsidies, medicaid, unemployment benefits to normal ppeople, which kills the economy with people not interested to work and people having no reason to work because the government pays your salary so why on earth work ???) and pensions, and the Unions asking and geting crazy salaries. People got to wake up and see that America is becoming Greece in no time and before we know it !!! California is already there -- Cant say it enough times .
    20 May 2012, 01:17 PM Reply Like
  • Ray Lopez
    , contributor
    Comments (1823) | Send Message
    I hope you also are in favor of cutting the bloated military budget or else you're living in the same denial you accuse others of.
    20 May 2012, 11:33 PM Reply Like
  • enigmaman
    , contributor
    Comments (2868) | Send Message
    Flash back to when they first started suggesting similar moves for Greece, who responded in exactly the same way as Spain has now and look at the end result for Greece and the EU. We've seen this movie, will it have an alternate ending
    20 May 2012, 03:46 PM Reply Like
  • moreofthesame
    , contributor
    Comments (739) | Send Message
    so you guys are suggesting that all the countries should simply borrow more and more money and pay more and more interest to the central banks and the Banks who are buying government notes? Wouldn't it be smarter to realize that this direction can not be maintained, interest payments can not be produced and something needs to change in the monetary system?
    I suggest that should happen before we have a civil war on our hands.
    20 May 2012, 07:26 PM Reply Like
  • moreofthesame
    , contributor
    Comments (739) | Send Message
    ... the banks have been buying up greedy governments, shortsighted politicians and political parties lacking directions for hundred of years now, some would say even longer, its time to change that before some ridiculous dictator gets elected once again based on the simple promise of aggression.
    20 May 2012, 07:29 PM Reply Like
  • srspa77
    , contributor
    Comments (325) | Send Message
    Spain is not in that bad of shape.
    20 May 2012, 07:49 PM Reply Like
  • wald22
    , contributor
    Comments (409) | Send Message
    Let the banks go under. Let the credit default swap insurance pay the loans off. But first if you have money in the bank, take it out. Saving the banksters will only encourage them to screw you again. So if you let them, shame on you.......
    20 May 2012, 07:50 PM Reply Like
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