You have commented 339 times on Rantburg.

Your Name
Your e-mail (optional)
Website (optional)
My Original Nic        Pic-a-Nic        Sorry. Comments have been closed on this article.
Bold Italic Underline Strike Bullet Blockquote Small Big Link Squish Foto Photo
Submit your comments on this article
Europe
Rajoy: Spain finds more difficult to borrow
2012-05-29
[Iran Press TV] Spanish prime minister says that at the moment Madrid is going through "an extremely difficult phase," as it's very hard for his country to raise funds on the debt market.

Mariano Rajoy's Monday comments came after Bankia shares nosedived over 28 percent on reports that the bank needs more bailout cash than originally thought.

Rajoy however, downplayed the impact of financial problems that the country's fourth largest bank is facing saying that he doesn't believe that Bankia's woes have contributed to the latest surge in the risk premium requested by investors to hold Spanish debt.

The conservative prime minister insisted that Spain's banking sector would not need an international rescue.

Recently nationalized Bankia, Spain's fourth-largest bank has asked for an additional 19 billion euros in government help, in addition to the 4.5 billion euros rescue fund received from the state last month.

Meanwhile,
...back at the shouting match, a new, even louder, voice was to be heard...
 Spain's wealthiest autonomous region, Catalonia, has also asked for central government's help to pay 36 billion euros of debt refinancing bills this year.
Posted by:Fred

#3  Uhh, wasn't Catalonia talking like they were going to split off on their own a couple years ago? They had a website that inferred quite heavily that they were going to be their own country soon. Now they are coming to Madrid, hat in hand, asking for 36Billion Euros?
If I were the Prime Minister, I'd tell them to get bent, before I a stole/squandered a single additional Euro from the taxpayers, I'd tell Catalonia to get bent.
Posted by: Muggsy Poodle4893   2012-05-29 13:13  

#2  Wehell, looks like somebody took the $$$ + ran ...

To wit,

* CHINA DAILY FORUM > REPORT: ECB SECRETLY DISTRIBUTES "INFINITE" MONEY, to Greek + other EuroZOne Banks.

Greek Banks per were allegedly funneled/given over EU$100.0Bilyuhn.

* SAME > EUROZONE CRISIS FACES "CRITICAL MMOMENT":ECB PRESIDENT[Mario Daghri].

IIUC DAGHRI = attempted TO Argue that IT IS FOR EUZ MEMBER-NATIONS TO ADJUST THEIR DOMESTIC + INTERNATIONAL FINANCIAL, ECON SCHEMAS TO THE EURO-DOLLAR = SINGLE-VALUE CURRENCY, NOT FOR THE ECB, ETC. TO ADJUST TO GOVTS-STATES???

* SAME > PANIC SETS IN AS BRITISH EXPATS DITCH EUROS.

* SAME > UK DEEPER IN RECESSION THAN THOUGHT.

* SAME > UK FIRMLY IN DOUBLE-DIP RECESSION.

* FYI DEFENCE FORUM INDIA > BRITISH, SPANISH SHIPS INVOLVED IN [fishing] STANDOFF OVER GILBRALTAR.

Madrid claims London = ex-PM Blair promised to return Gibraltar to them - they want it, + they want back now or ASAP!

Iff neither side has any $$$, will this result in violence between Spanish Fishermen + Gibraltar-based UK Security Boats, or will London have to call in their own Fishing War Fleets to combat Spain's Fish Armada???
Posted by: JosephMendiola   2012-05-29 03:11  

#1  Spain is like the EU in minature. No central fiscal control.
Posted by: phil_b   2012-05-29 02:42  

00:00