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The ECB and the IMF are negotiating a €300B rescue package for Spain that would open the...

The ECB and the IMF are negotiating a €300B rescue package for Spain that would open the way for the central bank to buy the country's sovereign debt, Holland's Het Financieele Dagblad reports - without mentioning whether any Spanish government representatives are involved in the talks. Eurozone finance ministers are due to discuss the plan at a meeting in Cyprus today.
Comments (2)
  • User 353732
    , contributor
    Comments (4785) | Send Message
     
    How can fraudulent debt and fake money possibly rescue a polity from the multiple pathologies it chooses not to address?
    Spain lacks the capacity to create adequate wealth to sustain its consumption and financing unmerited and unearned consumption with financial fraud will only make Spain's inevitable debt defaults that much more catastrophic.
    14 Sep 2012, 05:16 AM Reply Like
  • schatzl
    , contributor
    Comments (391) | Send Message
     
    Apparently the € crisis was solved. At least the € bull run would make you believe so. Spanish banks are starting to dump their housing inventory and has caused a massive drop in house prices in the last month. I'm expecting a continuation of exciting news from there. Shuffling of bad debt from one balance sheet to the next. The ultimate balance sheet would be the ECB and I wouldn't be surprised if Draghi follows Bernanke's lead and parks all the peripheral bad housing debt onto the ECB balance sheet for the core taxpayers to deal with it at some later stage when Draghi and other borderline criminal cohorts have disappeared to some tax safe haven that hasn't signed a extradition treaty. Welcome to the brave new world.
    14 Sep 2012, 06:06 AM Reply Like
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