Do you remember the times when the European Central Bank used to buy Spanish bonds some months ago.
Well, these lasts days Spain needed urgently the ECB buying Spanish bonds again but not only Mario Draggi has refused to do that. In fact he has criticised harshly the Spanish government in the way that it has handle the Bankia hole of about 2000000000 or more euros … (about 500 euros per Spanish capita).
So, not only Spain is not receiving any backing from the ECB. In fact the ECB is unhappy with Spain!
So it seems that Spain is again in the wrong side of history.
The game has ended and now Europe is angry with Spain.
This is quite crazy. Very bad news from Spain with the Bankia affair. Then you see the president of Spain, Mariano Rajoy trying to calm the markets and now Mario Draggi is criticising the handling of Bankia.
I wish I could trust blindly in Europe so that it would be good to be ruled from Berlin instead than from Madrid but I do not trust Angela Merkel. She does not believe in Europe. She only believes in Germany.
Somebody from outside Europe should tell the eurozone the truth: tell Spain, Greece and other countries to be aware that they acted like new rich and now it is time to pay back and at the same time to tell Angela Merkel that it is time for Germany to leave the euro if she does not want eurobonds.
Anyway, this post like a lot of mine are like the cry of someone who is in a river close to a fall and cries and cries but nobody hears him and the ones who hear him don’t give a damm. That’s Europe today. I may blame Merkel for this chaos a bit but I don’t blame Gemran people. During years they have been pouring money to Spain. And here we are …
- ECB Denies Report It Rejected A Spain Plan For Bankia Recap (forexlive.com)
- ECB rejects Spanish plan to recapitalize Bankia (forexlive.com)
- Spain’s long climb to the liquidity hospital (ftalphaville.ft.com)
- Outside the Box: In Spain, the worst is yet to come (marketwatch.com)
- Today in Europe (economist.com)
- ECB’s Refusal To Play Ball Means Spain Has To Foot A €350 Billion Bailout Bill Alone (zerohedge.com)