Eurozone agrees to lend Spain up to 100 bln euros

Discussion in 'Politics' started by Political Junky, Jun 9, 2012.

  1. Political Junky
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    Political Junky Gold Member

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    WRAPUP 7-Eurozone agrees to lend Spain up to 100 bln euros | Reuters


    BRUSSELS/MADRID, June 9 (Reuters) - Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.

    After a 2 1/2-hour conference call of the 17 finance ministers, which several sources described as heated, the Eurogroup and Madrid said the amount of the bailout would be sufficiently large to banish any doubts.

    "The loan amount must cover estimated capital requirements with an additional safety margin, estimated as summing up to 100 billion euros in total," a Eurogroup statement said.

    Spain said it wanted aid for its banks but would not specify the precise amount until two independent consultancies - Oliver Wyman and Roland Berger - deliver their assessment of the banking sector's capital needs some time before June 21.
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  2. saveliberty
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    saveliberty Diamond Member

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    Greece is toast on June 17th. That will become the blue print for what happens after an EU member drops out. Hope Spain wakes up in time to correct the problems. Doubtful though.
     
  3. Toro
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    Toro Diamond Member

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    Big rally Monday.

    Until the next crisis.
     
  4. saveliberty
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    saveliberty Diamond Member

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    Got in June 1st, getting out in another 100 - 150 points or by Friday. Taking my 4-5% and running for cover.
     
  5. Two Thumbs
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    The EU is suffering the consequences of socialism.

    we can see it happening

    But liberals still want the same shit here.
     
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  6. Political Junky
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    Political Junky Gold Member

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    Spain's new PM is Conservative.
     
  7. saveliberty
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    saveliberty Diamond Member

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    Spain, not so much. Rioting is the first sign of trouble.
     
  8. BDBoop
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    BDBoop BANNED

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    It's funny. The whole world is hurting - but in America, it's Obama's fault.
     
  9. Two Thumbs
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    He inherited these problems from an actual socialist.


    He actually made some vast improvements, but the liberals would rather the country burn than actually do what needs to be done.


    and seriously, 4 countries are going down, Spain is the 4th largest economy, that can crush the whole thing.


    But like I said, you want that to occur here.

    Please tell me why you want that here, knowing what the end result is.
     
  10. saveliberty
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    saveliberty Diamond Member

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    Poor policy decisions makes a recovery longer and provides the opportunity for a double dip recession, like we are entering right now. So yes, its his fault.
     

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