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Spain Will Exit The Eurozone First—This Year!


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#1 Asheron

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Posted 08 April 2012 - 11:30 AM

Unemployment in Spain is 24%. Youth unemployment (under 24 years old) is a shocking 53%. Both figures will rise during 2012 as the economy continues to contract. An unemployment of 30% by year’s end is within the realm of the possible. Hell, within the realm of the likely, even

Total government debt is projected to be 79.8% of GDP in 2012—that is, €800 billion. Much more troublingly, the debt last year was “only” €680 billion—but that was still 21% higher than in 2010. So at this rate—assuming the status quo remains unchanged, and without factoring in the contraction of GDP—in 2013 the projected Spanish government debt could well rise to 90% of GDP.

(Throughout this Supplement, when discussing “government debt”, I am referring both to Madrid’s and to the autonomous regions’ consolidated debt situation.)

Private debt is an additional 75% of GDP—and let’s not even start talking about the delinquency rates—while the banks have a capital shortfall estimated at a mere €78 billion.

On top of all this—as if “all this” weren’t bad enough—is the issue of the outstanding Spanish debt—

http://gonzalolira.b...tthis-year.html

Edited by Asheron, 08 April 2012 - 11:30 AM.

Max Keiser --- http://maxkeiser.com/
Peter David Schiff --- http://www.europac.net/
Gerald Celente --- http://www.geraldcelente.com/
Jim Rogers --- http://www.jimrogers.com/
Bob Chapman --- http://www.theintern...om/Bob_Chapman/

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#2 trevor_1977

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Posted 08 April 2012 - 12:16 PM

No one is going to leave to EU or the EURO , this will drag on a very long time but the Euro will survive and in it's current form .

#3 Game_Over

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Posted 08 April 2012 - 12:26 PM

No one is going to leave to EU or the EURO , this will drag on a very long time but the Euro will survive and in it's current form .


:lol:

#4 Democorruptcy

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Posted 12 April 2012 - 08:46 AM

I'll go for The Netherlands as first country to exit.

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#5 Trampa501

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Posted 13 April 2012 - 06:59 PM

According to the odds on another thread, Spain was 16-1 to leave the Euro first, whilst Germany was 6-1 !!!!
Actually they may find it easier just to keep "the Euro" but have a local version (not the current code that people draw attention to) that floats against the main Euro. An ESP-EURO or a DU-EURO perhaps?
Chrimbo 2011-12 predictions
Really I do not have a clue. It could all change, or it could stay the same!





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