Thread: The Spanish Bailout Explained With One Image

The Spanish Bailout Explained With One Image


Submitted by Tyler Durden on 06/11/2012 16:39 -0400
Pretty much says it all.




Courtesy of Libertyblitzkrieg

The Spanish Bailout Explained With One Image | ZeroHedge

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Eurosis For Dummies - A Timely Reminder


Submitted by Tyler Durden on 06/11/2012 13:12 -040

Just over six months ago the following clip provided the most succinct explanation of the European crisis. It seems after this weekend's debacle and today's market wake-up call that a reminder is needed. Perhaps summed up best by the following interchange, this is five minutes well-spent:

Where does the money for the bailouts come from?
All the governments in Europe including Greece, Italy, and Spain.

And who is allowed to receive money from it?
All the governments in Europe including Greece, Italy, and Spain.

How can that possibly work?
It can't, but Europeans like bad ideas that sound nice!




Eurosis For Dummies - A Timely Reminder | ZeroHedge

Farage On The Spanish Bailout: "A Reinforcement Of Failure"


Submitted by Tyler Durden on 06/10/2012 22:55 -0400
While the short-term benefits can be weighed against any long-term solution a number of ways, Nigel Farage provides not just the most colorful summation of situation but also the most succinct when he refers to the 'madness' of 'intervention to keep the Euro alive' as "reinforcement of failure".

The better, and braver, in his opinion, thing to do, is to recognize that those Mediterranean countries should never have joined the Euro in the first place. As we have stated again and again, by kicking-the-can once again to prop up the euro-zone with bailout-after-bailout, all we are doing is prolonging the misery. The discussion on Sky News digs into the collateral-damage 'strawman' - which will happen anyway - and then 'Red' Ken Livingstone (an infamously socialist-leaning British politician who advocated for Britain's joining the Euro when it was formed) now somewhat notably agrees with Nigel that "locking Europe into a decade of permanent economic malaise" adding that once the smaller countries were added to the core, "it was doomed to fail".

The two 'odd fellows' continue on to discuss the analogy of the USA to a United States of Europe noting that it took a civil war and a century before a common monetary and fiscal policy was accepted, adding simply that Europe's "nations will not give up their sovereignty".



Farage On The Spanish Bailout: "A Reinforcement Of Failure" | ZeroHedge