“Spain is officially insolvent: get your money out while you still can”

What’s projected to occur is essentially what happens in all bankruptcies. Eventually you have to borrow more just to pay the interest on your existing debt. The fiscal compact requires eurozone countries to reduce their deficits to 3 per cent by the end of this year, though Spain among others was recently granted an extension. But on these numbers, there is no chance ever of achieving this target without further austerity measures, which even if they were attempted would very likely be self defeating. IN any case, it seems doubtful an economy where unemployment is already above 25 per cent could take any more. [bron]

One thought on ““Spain is officially insolvent: get your money out while you still can”

  1. Daar hoeft je geen geleerde voor te zijn, behalve die halve garen, die in het EUSSR zitten die net doen of hun neuzen bloeden. Een kind kan mij dat nog vertellen! Zo misdadig is die corrupte EUSSR! Daraus und sofort aus die NAZIkomplot!

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