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)
16 thoughts on “Its on the way, then”
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taffee says:
looks like spain will be the next bailout then!
tenyearstogetmymoneyback says:
I remember Nigel Lawson saying Britain wouldn’t leave the ERM – about three hours before it did.
str 2007 says:
Yes, a categoric assurance That everything’s ok is usually enough to confirm the situation is negative and short positions profitable.
Paul says:
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.
Rental John says:
Britains exit from ERM…
http://news.bbc.co.uk/onthisday/hi/dates/stories/september/16/newsid_2519000/2519013.stm
fjcruiser says:
There is a revival of the prinitng industry as never seen before.
jack c says:
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.
general congreve says:
Go Spain and the global repercussions! Love you guys!
Positivo says:
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
miken says:
Stories like these make silly old men withdraw their money and put it under the mattress, and then on top of the car…
http://www.bbc.co.uk/news/uk-england-essex-11843543
Mike Livingstone says:
I understand Spain may have 700 odd tonnes of undeclared Gold, but even that is only worth $30bn.
techieman says:
“Those who are taking short positions against Spain are going to be mistaken.”…. oh s-c-a-r-y!!!!
str 2007 says:
Just one question, how do you actually short Spain as a country ?
khards says:
Vintage Rioja, Palo Cortado, Cava, Ribera del Duero Reserva, says he 30mins from Calais.
mdmick says:
Nobody but nobody expects the Spanish imposition!
nomad says:
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.