So, the weak Spanish banks are to receive a 100Bn Euro 'loan' from some EU fund or other.

It's to go through the Spanish govt to the banks.

And then you see this:
"Spain was keen to ensure that any external assistance went directly to its banks, rather than to the central government.

As a result, the loans will go to its bank restructuring agency, called Frob. But this would still considered state debt, Mr de Guindos said. "

So tiz a State debt. As in it's repayable by Jose Bloggs.

Trouble brewing there methinks

dubmeup wrote:
The Eurozone was always going to break down. Everything goes back to how it was and all "Empires" eventually fail.

Tough times for the Spanish people but, in the end, it might just be the freeing of them.

cantata wrote: Well I'm sure the puppeteers see this as staving off the breakdown.......for a bit longer at least.
People in Spain are already pretty pissed as I'm sure we've all noticed
This could well push them over the edge. The notion that the banks will be saved at the public expense will not go down well.
We tend to forget that the Civil war is not a distant memory for them. We also tend to forget the regional tensions that exist.
I've lived in Spain, they are a fantastic and passionate people from what I saw. There will be big trouble I'm sure.
Whether it frees them or plunges them back towards Franco-ism remains to be seen.

This rings a bell....

Indeed oi.
I think we can fully expect similar scenes to what we have witnessed in the land of your domicile very soon.
Am I alone in thinking that all the economic shit (whilst having an obvious economic agenda) is rather to designed TO get the people out there in the streets 'tearing it down'? In other words that a Europe wide "Franco" state is part of the intention? Hegelian dialectic?
In a place such as this, I'm sure I'm not

cantata wrote:
Economics is not something I know much about, it has to said, but I never thought the Eurozone would last, either. Too much disparity between the member countries. I do hope that it all turns out OK in the end, but I can't help but think it's going to be a very turbulent time getting there...

Mandy

I note that the broadcasting arm of the British State, in it's latest unfettered endorsement of the LOAN neglects to mention that despite the cash going to the banks, it's the Spanish people that are liable for the debt...........

Then that Robert Peston puppet chimes in with some guff about Ireland having a legitimate case to renegotiate it's bailout terms.....

Why I wonder?
www.bbc.co.uk/news/world-europe-18385634

It Starts:

www.telegraph.co.uk/finance/financialcri...only-get-poorer.html

As yet though they are just saying "why should the banks get the money when the people are starving"

Not sure the penny has fully dropped yet but when it does..........

Well, when you put it like thaaaaattt