Archives for: Germany leaves Euro
Too big to bail: Spain and Italy are too indebted for even Germany to rescue, so let’s just call time on the Euro!
by Mitch Feierstein about 10 years 8 months ago
Another day, another faux bailout. Today European finance ministers agreed to let the Spanish banks get the first €30 billion slice of their bank bailout. Those same finance ministers are also set to approve a year’s delay in the deadline given to Spain for reaching a budget deficit of 3% of GDP. That won’t, of […]
SPANISH DEBT: MORE TOXIC THAN FUKUSHIMA & CHERYNOBOL
by Mitch Feierstein about 10 years 9 months ago
Just as things were looking bleak, time ticking away, and tension rising … Cesc Fabregas scored for Spain. The tournament favorites hardly daunted their major rivals in their one-all draw against Italy, but they lived to play another day. Meantime, over the same weekend, another rescue act took place. This ‘rescue’ involved €100 billion of […]