Monday, November 22, 2010

Spain Will Be The Biggest Bailout

The biggest bailout the European Union will have to do if it comes to it will be Spain and it is worrying that there is not a set mechanism on how to go about it, Cornelia Meyer, CEO & Chairman, MRL Corporation, told CNBC Monday.
At the weekend, euro zone financial ministers and Irish officials agreed on a bailout of under 100 billion euros ($137 billion) for Ireland, sending stocks in Europe and the euro higher, as investors breathed a sigh of relief.
But the next in line for European Union and International Monetary Fund money may be Portugal, and then Spain, analysts said.

Ireland Warned it Will Have to Stump up State Assets in Bailout 

1 comment:

  1. Ireland and the american sellouts .
    At least Hitler the Fascist had some patriotic idea of a German fatherland nation, that he crazily confused with “race”.
    On capturing state power for the German finance capitalists and their backers ,
    he refused to allow Germany to continue to be impoverished by stopping the international bankster imposed Versailies reparations for WW1, whereby Germany was blamed entirely for WW1 and ordered to pay for all its entire massive costs plus interest.
    As the other imperialist countries like the U.K were in debt after borrowing from America to finance their wars, the principle beneficiaries of the Versailles “peace” were of course the American central bankers and US bondholders.
    These Versailies reparations payments were behind the inflationary Weimar Republic money printing inflation and kept Germany poor and its industry underdeveloped throughout the 1920s.
    The worldwide economic depression and beggar my neighbor policies of America were the final straw. Leading to an environment suitable for the emergence of a middle class /labour aristocracy backed fascist ‘national socialism” after sweeping the social democrats and communists to one side.
    Fascist Germany before entering its expansionist war stage was able during the depression, like FDR in America to create a lot of government financed “shovel ready jobs” by building infrastucture like the great Autobahns and military related industries.
    The dimwitted German middle class lapped it all up and mistook patriotic propaganda for real profits and recovery just as Americans do today. as they look at rising value on the rising stock exchange index ,not noticing that in real world value such as compared to gold ,its value is being eaten ,inflated away ,by money printing.

    In the end both countries Germany and America attempted to solve the mounting costs of government deficit spending and capitalist un- profitability in economic depression by creating war economies.
    Germany by direct aggressive colonialist wars and America by entering into an armaments supply business with British Empire financing for US industry .
    The current crop of bailout kings in America now turning increasingly Patriot act type fascist oppression of Americans for the success of the “war on terror”, with internal and external militarism and a growing Homeland security police state and attempts at seeking profits from that.
    But, The banksters are piss poor even as Fascists, because unlike even a Hitler they do not even have a patriotic bone in their bodies. After a financial coup for control of US government revenues all they are interested in is greed and fraud ,socializing their past losses at taxpayer expense and increasing the supply of money for wars..
    After all there is no money to be got now from ordinary high waged American industrial production or in housing construction . After de-industrializing America , the government revenues are simply being diverted into their own pockets there is nothing to spare in real infrastructure development or re-building America.
    Only money for food stamps handouts .
    No FDR type Dams or other industrial infrastructure is being created.
    So, even as fascists promising a recovery of industrial America they then, only deserve a rate of complete failure in promises to rebuild America ,or at best one out of ten rating for big lie recovery propaganda.
    Real Working class socialism is still not on the agenda to compete with fascism .
    With the bribed unionized sector .a labor aristocracy ,only amounting to about 7 % of the people anyway .Hardly a mass movement..

    So, there is not even a decent Fascist movement outside of the elite run government two party system to stand up the banksters for Americans ,only weak kneed gray haired tea partiers ,war against the world inciters ,demanding their own claimed American entitlements not to join the ‘lazy” lumpen proletariat of the food stamp brigades.


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