Friday, November 26, 2010

Its on the way, then

Spain PM "absolutely" rules out bailout

As concerns that the euro zone debt crisis could spread to the Iberian nations gripped markets, Prime Minister Jose Luis Rodriguez Zapatero said there was "absolutely" no chance Spain would need to seek outside help to manage its finances.The country had no plans to introduce extra fiscal measures either, and investors should think twice about betting against it, he added, telling private regional broadcaster RAC1 radio: "Those who are taking short positions against Spain are going to be mistaken."

Posted by alan @ 04:41 PM (1784 views)
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16 thoughts on “Its on the way, then

  • looks like spain will be the next bailout then!

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  • tenyearstogetmymoneyback says:

    I remember Nigel Lawson saying Britain wouldn’t leave the ERM – about three hours before it did.

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  • Yes, a categoric assurance That everything’s ok is usually enough to confirm the situation is negative and short positions profitable.

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  • This denial until blue in the face happens all the time with politicians and bureaucrats. It is a shame that we cannot make lying an offence. As you’ve all said, such a statement by the PM pretty much guarantees that Spain will be the next country that needs bailing out.

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  • There is a revival of the prinitng industry as never seen before.

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  • Euro Crisis: Spain ‘too big to bail out’, warns F&C see citywire.co.uk/money/euro-crisis-spain-too-big-to-bail-out-warns-fandc/a451600

    “Ted Scott, director of UK strategy at F&C Investments, believes that if investors continue to be nervous about Spain’s ability to manage its debts it could pose a serious threat to the European Union. ‘If Spain failed, it would be too large for the eurozone institutions to rescue and could bring the edifice of the euro project down with it,’ warned Scott”

    The comments section in the Citywire article is well worth a read – never did I think I would see the day when a Citywire story gave rise to people talking about soup kitchens etc… – I’ve just requested a tin foil hat for Christmas.

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  • general congreve says:

    Go Spain and the global repercussions! Love you guys!

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  • Zapatero has been saying throughout the crisis that Spains economy is strong and that no one needs to worry.

    Ask a Spaniard (I live there) and they will tell you that he is an optimist and not a realist. Be warned if Spain goes so does Britain and many other nations who have invested in the concrete jungle of the costas

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  • Mike Livingstone says:

    I understand Spain may have 700 odd tonnes of undeclared Gold, but even that is only worth $30bn.

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  • “Those who are taking short positions against Spain are going to be mistaken.”…. oh s-c-a-r-y!!!!

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  • Just one question, how do you actually short Spain as a country ?

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  • Vintage Rioja, Palo Cortado, Cava, Ribera del Duero Reserva, says he 30mins from Calais.

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  • Nobody but nobody expects the Spanish imposition!

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  • The fact that the interest rate for the Irish bailout is now known to be 6.7% is going to give anyone further along the queue some very brown trousers. Quite a dissuador in fact.

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