# Spain in a state of 'total emergency'



## xabiaxica (Jun 23, 2009)

Spain in a state of 'total emergency' - Yahoo! Finance UK



> Spain is in a state of 'total emergency', the country’s former prime minister has warned, with Madrid facing punitive borrowing costs and the prospect of needing a Greek-style bail-out.
> 
> Felipe González, the country’s elder statesman, said: “We’re in a situation of total emergency, the worst crisis we have ever lived through.”


apologies if this has appeared in another thread - but I thought it deserved its own


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## gus-lopez (Jan 4, 2010)

yes , that's 'old hat ' . from 6am this morning.I think that there's a lot of brinkmanship going on as well. The southern countries have awakened to the fact that they could force a vote on modifications to the austerity package by virtue of their voting power, which would put the Germans in an awkward position.especially when the 70 billion of direct exposure to Spain alone, now turns out to be 186 billion ! Much of which has been re-financed from UK banks .

It looks like the Cataluñian Presidents plea that they would 'soon need a bailout' was a put up job to put pressure on the eu & Germany. It was certainly done tongue in cheek !


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## Solwriter (Jan 10, 2012)

gus-lopez said:


> yes , that's 'old hat ' . from 6am this morning.I think that there's a lot of brinkmanship going on as well. The southern countries have awakened to the fact that they could force a vote on modifications to the austerity package by virtue of their voting power, which would put the Germans in an awkward position.especially when the 70 billion of direct exposure to Spain alone, now turns out to be 186 billion ! Much of which has been re-financed from UK banks .


Agree.
And I'm hoping for a good outcome on this...... maybe....


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## mrypg9 (Apr 26, 2008)

Solwriter said:


> Agree.
> And I'm hoping for a good outcome on this...... maybe....



Why 'bail -out', though?

Why not take into public ownership/control (not necessarily direct management)instead of propping up???

Then divert the funds used to play the markets for non-institutional investors into liquidity for private business and for publicly-funded infrastructure projects


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## gus-lopez (Jan 4, 2010)

mrypg9 said:


> Why 'bail -out', though?
> 
> Why not take into public ownership/control (not necessarily direct management)instead of propping up???
> 
> Then divert the funds used to play the markets for non-institutional investors into liquidity for private business and for publicly-funded infrastructure projects


I certainly can't see why they don't do it with Bankia. i was reading earlier in the week that the new chairman is the ex-Bank of Valencia man who's awaiting trial on all sorts of money charges whilst at the B of V!! Apparently he's also entitled to a 13,8million pension ! :confused2: He hasn't been there a week !!Wtf is all that about ? He was asked to take the job as he was 'the best man ' . :rofl:


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## Solwriter (Jan 10, 2012)

mrypg9 said:


> Why 'bail -out', though?
> 
> Why not take into public ownership/control (not necessarily direct management)instead of propping up???
> 
> Then divert the funds used to play the markets for non-institutional investors into liquidity for private business and for publicly-funded infrastructure projects


The more I read (and watch) about this whole situation, the more I am sinking into despair.

The blame game is rife right now (and yes, there is a lot of blame to go around), but no one in power appears to have any idea of a viable solution of a way to move _forward_. Or, if they do, they are held back by legislation which does not support Spain's particular interests.

The original article was picked up, one could say greedily, by the Western press and published and read by those with their own political interests.
Its like we are living in a bad Hollywood disaster movie at the moment (except that the end wont be stirring music and happy family scenes) and everyone is watching with bated breath.


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## gus-lopez (Jan 4, 2010)

gus-lopez said:


> I certainly can't see why they don't do it with Bankia. i was reading earlier in the week that the new chairman is the ex-Bank of Valencia man who's awaiting trial on all sorts of money charges whilst at the B of V!! Apparently he's also entitled to a 13,8million pension ! :confused2: He hasn't been there a week !!Wtf is all that about ? He was asked to take the job as he was 'the best man ' . :rofl:


Sorry this is incorrect .

This applies to Bancaja.

" The new chairman is the ex-Bank of Valencia man who's awaiting trial on all sorts of money charges whilst at the B of V!! :confused2: He hasn't been there a week !!Wtf is all that about ? He was asked to take the job as he was 'the best man ' ." :rofl: "


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