Eurozone agrees to lend Spain up to 100 bln euros

[Political Junky]

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.
<more>

 

[saveliberty]

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.

 

[Toro]

Big rally Monday.

Until the next crisis.

 

[saveliberty]

Got in June 1st, getting out in another 100 - 150 points or by Friday. Taking my 4-5% and running for cover.

 

[Two Thumbs]

The EU is suffering the consequences of socialism.

we can see it happening

But liberals still want the same shit here.

 

[Political Junky]

The EU is suffering the consequences of socialism.

we can see it happening

But liberals still want the same shit here.

Spain's new PM is Conservative.

 

[saveliberty]

The EU is suffering the consequences of socialism.

we can see it happening

But liberals still want the same shit here.

Spain's new PM is Conservative.

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

 

[BDBoop]

It's funny. The whole world is hurting - but in America, it's Obama's fault.

 

[Two Thumbs]

The EU is suffering the consequences of socialism.

we can see it happening

But liberals still want the same shit here.

Spain's new PM is Conservative.

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.

 

[saveliberty]

It's funny. The whole world is hurting - but in America, it's Obama's fault.

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.

 

[Political Junky]

Romney and the GOP want to follow Europe's austerity. Funny that.

 

[Two Thumbs]

Answer my question directly you pussy.

or just admit you're wrong, you know you're wrong, but just don't give a fuck.

 

[Disturbed9]

The EU is suffering the consequences of socialism.

we can see it happening

But liberals still want the same shit here.

Let the euro tank. Set an example to the fashionistas here as to globalized currency without autonomy and sovereignty for each nation.

 

[saveliberty]

Romney and the GOP want to follow Europe's austerity. Funny that.

What European austerity? They talk about it, but it doesn't really exist. A brief auserity plan, well executed would do wonders.

 

[BDBoop]

It's funny. The whole world is hurting - but in America, it's Obama's fault.

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.

And as long as people keep pointing fingers and ascribing blame, nothing will change.

It's a GLOBAL issue, and as far as I can figure, it was kicked off by some truly ugly shenanigans by the financiers.

 

[Two Thumbs]

It's funny. The whole world is hurting - but in America, it's Obama's fault.

The first 6 years of the Bush admin, everything was fine.

the dems took both houses and everything went to shit.

But 3.5 years later and obama, and the dems are still blaming bush.


time to grow the fuck up, look at the EU and grasp the idea that THAT is what your leaders want for America.


you cool with that?

 

[BDBoop]

It's funny. The whole world is hurting - but in America, it's Obama's fault.

The first 6 years of the Bush admin, everything was fine.

the dems took both houses and everything went to shit.

But 3.5 years later and obama, and the dems are still blaming bush.


time to grow the fuck up, look at the EU and grasp the idea that THAT is what your leaders want for America.


you cool with that?

What I'm NOT cool with is you talking to everybody that doesn't agree with you like they are so much shit on the bottom of your shoe. That's what I'm not cool with.

 

[saveliberty]

It's funny. The whole world is hurting - but in America, it's Obama's fault.

The first 6 years of the Bush admin, everything was fine.

the dems took both houses and everything went to shit.

But 3.5 years later and obama, and the dems are still blaming bush.


time to grow the fuck up, look at the EU and grasp the idea that THAT is what your leaders want for America.


you cool with that?

What I'm NOT cool with is you talking to everybody that doesn't agree with you like they are so much shit on the bottom of your shoe. That's what I'm not cool with.

Everybody is frustrated with politics these days. Toning down the trash talk might help in my opinion. There's always the ignore feature or tv too.

 

[Two Thumbs]

It's funny. The whole world is hurting - but in America, it's Obama's fault.

The first 6 years of the Bush admin, everything was fine.

the dems took both houses and everything went to shit.

But 3.5 years later and obama, and the dems are still blaming bush.


time to grow the fuck up, look at the EU and grasp the idea that THAT is what your leaders want for America.


you cool with that?

What I'm NOT cool with is you talking to everybody that doesn't agree with you like they are so much shit on the bottom of your shoe. That's what I'm not cool with.

so the tone of my voice, in your head, is more important to you than riots in America.

 

[Charles_Main]

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.
<more>

What these people do not understand, Is that by simply Bailing out these Countries Directly, they are enabling Behavior the Countries can not sustain. They are not Solving any Problems, Just Putting them off at the Cost of Billions. Instead of Making the Needed Adjustments they Must to Right their Fiscal Ship, Spain will do just as Greece, and the others have done. They will use the Money to Help them continue to Spend wildly beyond their Means, and then hope for another bail out in a few Years.

We are watching the end of the world as we know it. The Coming Economic Storm is all but inevitable.