spain now in the sh*t

[debt4get]

despite claiming they only need the money to prop up a few banks, then why is the majority of the spanish population paying for the banks misfortune?

http://www.bbc.co.uk/news/business-19763756

An independent audit of the banks confirmed on Friday that the banks are short of some 59bn euros, or almost 6% of Spanish GDP.

This "hole" is the amount of capital that must be injected by the authorities to absorb the losses that the banks (especially regional savings banks) might suffer on all the loans they made to property developers and mortgage borrowers during the housing boom of the last decade.

Some of the 59bn may also be provided by private sector investors, or by writing off the amount owed to some existing investors in the banks.

The housing bubble has burst and many of those loans cannot be repaid.

The eurozone has already made 100bn euros available from its rescue funds to plug this hole, although many investors suspect that the banks' needs may (eventually) exceed even this total.

 

 

now i was always under the opinion if you invested your money in something and it went t*ts up then you lost your money...if it succeeded then you were quids in..why would anyone in their right mind, and i include us the wider british people in this statement, give billions to companies who made unwise investments (ie lost the lot on the 3.30 at kempton) yet roll over and give them the dosh to play again?

people are beginning to see the insanity that his happening, the rich get richer whilst the poorest in society have to pay for the privelige...we really are PLEBS

[tonycee]

people are beginning to see the insanity that his happening, the rich get richer whilst the poorest in society have to pay for the privelige...we really are PLEBS

 

At last. Bang Bang. Listen to my drum.

 

You have a choice with your next vote.

[debt4get]

actually not much of a choice though tony....unless we have a 'none of the above' on the ballot paper....labour are already making noises about how they will keep the welfare reforms etc that the condems have brought in...so who are we left to vote for..independents? plaid cymru here in wales? none of the choices give me much hope