Brief Translation of Spanish Bank Bailout

by Mike on June 12, 2012

in Economy,Europe,Politics

It isn’t difficult to find news articles on the bailout of Spanish banks.  What is difficult to find is any story that lays out Spanish debt in terms of actual numbers.  Dan Hannan doesn’t do that exactly, but his ten observations in regard to the bailout provide some numbers and a great deal of perspective.

I would compare the situation to a bank  increasing its customer credit limit after the customer already maxed our their credit cards to the point where they can’t quite keep up with their minimum monthly payment. Whatever analogy one draws ho however, the reality is alarming:  countries are trying to borrow and spend their way out of debt, and it’s not going to work.

{ 1 comment… read it below or add one }

Gregg Herreid June 13, 2012 at 7:29 am

Money may not be going to Spain. Following the money may lead to big EU banks. Otherwise they would be throwing Spain under the bus.


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