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Frankfurter Allgemeine Zeitung Reports EU, IMF Prepare To Bail Out Spain; Europe Denies
ZeroHedge ^ | 6/14/2010 | Tyler Durden

Posted on 06/14/2010 9:52:22 AM PDT by mojito

A potentially destabilizing report appeared earlier today in the Frankfurter Allgemeine Zeitung (FAZ), according to which countries in the EU are preparing to bail out Spain, which has immediately prompted denials out of both the EU Commission, which claimed that the "report on aid for Spain is completely untrue." Of course, in January Joaquin Almunia almost ate that Bloomberg reporter who, for the first time ever, suggested that the EU would need to bail out Greece. Four months later Greece was bankrupt and the EU was on hook for a cool trillion. And in adding to the ongoing contradictions, Spain's Treasury Secretary has said Spain has no problem financing its debt, even as it was reported that Spanish banks have raised a record €85.6 billion in ECB funding, and Spain's Ocana understated that the "liquidity freeze in Spain in foreign markets is a problem." On the other hand, of course Spain has no problem in "financing" its debt - the ECB is gladly monetizing it all. Lastly, the fact that Spanish unions have called for a general strike is likely going to shift the balance of power to the truth instead of the baseless propaganda, and within a week or so, Spain will be another raging Greece.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Front Page News; Germany; Government
KEYWORDS: debtcrisis; euro; spain
Another domino about to fall.
1 posted on 06/14/2010 9:52:22 AM PDT by mojito
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To: mojito
Another domino about to fall.

Yes, question is, who is going to be the third?

the infowarrior

2 posted on 06/14/2010 9:57:12 AM PDT by infowarrior
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To: infowarrior

Italy? See this related post, from a few minutes ago:

http://www.freerepublic.com/focus/f-news/2534262/posts


3 posted on 06/14/2010 10:02:11 AM PDT by mojito
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To: mojito
Note to American taxpayers: Incoming!!!!!
4 posted on 06/14/2010 10:03:50 AM PDT by mewzilla (Still voteless in NY-29. Over 250 roll call votes missed and counting...)
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