11-05-2013, 09:46
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#1422
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Trollsplatter
Join Date: Jun 2003
Location: North of Watford
Services: Humane elimination of all common Internet pests
Posts: 38,138
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Re: Eurozone will collapse...
Spain is officially insolvent. Get your money out while you still can.
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I'd not noticed this until someone drew my attention to it, but the latest IMF Fiscal Monitor, published last month, comes about as close to declaring Spain insolvent as you are ever likely to see in official analysis of this sort. Of course, it doesn't actually say this outright. The IMF is far too diplomatic for such language. But that's the plain meaning of its latest forecasts, which at last have an air of realism about them, rather than being the usual dose of wishful thinking.
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