Friday 30 March 2012

Spain and bazookas (2)

The citizens of Spain are paying, and how, for the failure of euroland politicians and bureaucrats.  Massive austerity budget. But will it all be in vain?  Probably.

http://www.telegraph.co.uk/finance/financialcrisis/9176701/Spain-unveils-most-austere-Budget-in-democratic-history.html

As reported yesterday the euro firewall has been fixed at 800 billion euros: eye-watering, but suggestions that even 1 trillion euros would not be sufficient:

http://www.bbc.co.uk/news/business-17560077

http://www.spiegel.de/international/europe/0,1518,824808,00.html and

http://www.spiegel.de/international/europe/0,1518,824750,00.html

An item which tells us a lot........

http://www.telegraph.co.uk/finance/financialcrisis/9177065/Furious-Eurogroup-chairman-Jean-Claude-Juncker-ends-key-meeting-early.html

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