Spanish Bailout

MonkeyLove · 9th June 2012, 07:20 PM

There we go then, now they have formally asked for help I think this is finally the beginning of the end of the Eurozone that has been so much vaunted for the past 18 months.

They had no choice in a way but as we have seen with any other country that asks for help it saves you and puts the final nail in your coffin at the same time.

Watch their government borrowing costs jump excessively, their already fragile economy further screwed by lack of foreign investment, a greater run on their banks causing a viscious circle where they need more and more funding to replenish their capital. And their unemployment rate which is already ridiculous even by current Euro standards further spiral out of control.

Too big to fail and just embarking on the road that Ireland, Portugal, Greece etc... have been on.

Really think it is on its way out now.

Ps - Monkeytassle will be all ower this thread

mickb2112 · 9th June 2012, 07:27 PM

and still the Bankers think they deserve a bonus.
How bad do things have to get before their greed is reigned in?
"We`ll move abroad if you don`t pay us what we want".....where will they go seeing as the whole western economy is pretty much knackered??

bongo · 9th June 2012, 07:39 PM

Quote:

Originally Posted by mickb2112

and still the Bankers think they deserve a bonus.
How bad do things have to get before their greed is reigned in?
"We`ll move abroad if you don`t pay us what we want".....where will they go seeing as the whole western economy is pretty much knackered??

You've just answered your own question, to the East and the emerging markets where all of the money is these days.

mickb2112 · 9th June 2012, 07:57 PM

Quote:

Originally Posted by bongo

You've just answered your own question, to the East and the emerging markets where all of the money is these days.

Surely, they have enough of their own bankers over there and won`t the huge supply of bankers running away from the west drive their wages down???

bongo · 9th June 2012, 08:02 PM

Quote:

Originally Posted by mickb2112

Surely, they have enough of their own bankers over there and won`t the huge supply of bankers running away from the west drive their wages down???

They don't have the same levels of expertise we have and there are tons of banks fighting for the best workers.
So in the short to medium term no it won't.

monkeytassle · 9th June 2012, 08:12 PM

Spain is a different kettle of fish to be fair. And the markets have been expecting this for a while. In fact the last two days the markets have been more confident than I've seen them in a while. Germany might eventually be getting closer to paying their share of this mess.

And for the avoidance of doubt I am not banker

ir35 · 9th June 2012, 08:23 PM

Quote:

Originally Posted by bongo

They don't have the same levels of expertise we have and there are tons of banks fighting for the best workers.
So in the short to medium term no it won't.

Would that be the same "expertise" that got us into this mess in the first place?

makum102 · 9th June 2012, 08:24 PM

Im part of the problem (Im sad to say). Stopped paying my Spanish Mortgage April last year. They still have not repossessed yet. I just could not afford to continue paying since the interest rate shot up and My earnings in UK dropped by over 2 thirds.

LeicesterMackem · 9th June 2012, 08:37 PM

Quote:

Originally Posted by bongo

They don't have the same levels of expertise we have and there are tons of banks fighting for the best workers.
So in the short to medium term no it won't.

You just make this stuff up don't you?

walter mitty · 9th June 2012, 08:38 PM

can someone please tell me why the public will be expected to bailout a private company?