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**Chris** · 11-06-2012, 22:43

http://www.bbc.co.uk/news/business-18391824

Funny, the Europhile BBC made a big headline this morning about the initially positive market reaction to Spain's honest-guv-it's-not-a-bailout. By the time they all closed - most of them comfortably south of their opening levels as traders started to see through the bluster, BS and nonsense emanating from Brussels and Madrid - the story is fairly well buried. Italian and Spanish bond yields are up (Spain's are at an eye-watering 6.5%, and let's not forget, the not-a-bailout money is going on the Government's books, even though it has been spun as direct support for some of the country's banks, rather than its economy - Spain is going to have to repay the bailout loan at some point, but how is it going to do that when its ability to refinance its debt is so badly compromised?)

11-06-2012, 22:43	#863
Chris Trollsplatter Join Date: Jun 2003 Location: North of Watford Services: Humane elimination of all common Internet pests Posts: 38,262	Re: Eurozone will collapse... http://www.bbc.co.uk/news/business-18391824 Funny, the Europhile BBC made a big headline this morning about the initially positive market reaction to Spain's honest-guv-it's-not-a-bailout. By the time they all closed - most of them comfortably south of their opening levels as traders started to see through the bluster, BS and nonsense emanating from Brussels and Madrid - the story is fairly well buried. Italian and Spanish bond yields are up (Spain's are at an eye-watering 6.5%, and let's not forget, the not-a-bailout money is going on the Government's books, even though it has been spun as direct support for some of the country's banks, rather than its economy - Spain is going to have to repay the bailout loan at some point, but how is it going to do that when its ability to refinance its debt is so badly compromised?)