So Portugal had to take the bailout.
{Peston had the market's price for financing a bad credit nation yesterday. Portugal had run out of options on ways to service its debt.}
So - bets on Spain to have to a euro bailout.
- 1 months
- 6 months
- 12 months
- 18 months
- never.
15 comments:
I was going to say never.
But Spain has just emphatically announced that they do not require a bailout, so put me down for 9 months.
I'm in for 8 Months (6 months is too early the whole Euro thing is slow burn but inevitable IMHO.)
I have a pound or two in Santander. Should I remove them now?
I'd have to say never - not because I'm an optimist, but because I think her economy is too big to be "rescued" by the bailout fund.
How does one apply for one of these E.U. bailouts?
I know of so many young couples that but for the child tax credit would not know what the inside of an Angus Steak House looked like.
I'll go for 6 months, things are speeding up. Can't wait to see how the market reacts when it realises Portugal, Greece and Ireland have to contribute to bail out Spain.
Malcolm Tucker has stolen my idea. IMF says unnecessary so 3-6 months I reckon.
Anon raises an interesting point. If all the bailers-out are borrowing to fund the buckets, will the markets lend and at what price? Britain seems to be able to borrow quite cheaply at the moment but for how much longer if the Eurozone is kaput?
Is it time to get the hell out of cash?
What would happen if every member of the EU and European Bank applied for a bailout?
Where would the money come from?
It's theoretical, of course, but where does the line come where there are more people receiving money than paying it?
...sounds familiar...can't put my finger on exactly what though. :)
is anyone really mad enough to give money to a country about to go to the polls whose current gov has no legitamcy to agree bailout conditions and whose sucessor will immediately go for re negotiating on those very grounds?
also
6 months on Spain
£5 E/W 6 months (Spanish Bailout)
£5 E/W 12 months (Italian Bailout)
European Race Day.
BOOKMAKERS: France and USA.
SPONSORS: Germany (Also collecting a fee from the bookies).
PRIZE MONEY: €800,000,000,000 Levied on the Taxpayers of any fallers.
Non Runners: GREECE (WON last time out, but couldn't afford the entry fee) UK (Not Members of the Jockey Club)
They're off !... Going down to the first fence Ireland and Portugal look a bit unsteady!
First fence, OHHH Ireland is a faller and Portugal has unseated it's rider. But wait a novice has re-mounted him amazing!
100 yards to the ditch at the second and OOPS Portugal finally goes down and looks around for new Owner.
The Irish jockey(s) are running after their horse but seem to be in no danger of re-mounting.
Going downhill towards the third a simple hurdle, but the Italian jockey is playing to the ladies in the crowd and is not looking where the horse is going. SPAIN is making a run on the outside but their jockey is in trouble as the saddle slips approaching the fence...
We are taking a short break here for a word from our media sponsors (RBS, Lloyds and Northern Rock) back in a while for the remainder of the action.
Will any horse finish the course?
Put me down for a fiver on 6 months. 'Events dear boy' are all going the one way.
A mate of mine has a lot of money in a Santander fixed-term deposit, due to mature in August. Should he get them out now and pay the penalty?
Modo !
well well well
how's the rendering business ?
Spain? 6 months or sooner.
The EU wants this controlled failure because it means direct financial rule by the EU can be imposed following the bail out.
It is the two pronged attack: the first is EU legislation directed at the main front, the second is removal of the last vestiges of financial independence on a new front, whilst providing the public diversion of 'protecting the euro'.
I hope I am wrong but the EU/euro appears to have a life of its own; and appears to be thriving at the moment. I am afraid the fight will be longer than we would like to think.
Pebbledash can cover a host of sins.
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