Tag Archives: Euroblown : Spain Facing Disaster

John Ward – Euroblown : Spain Facing Disaster, But The Troika Goes La-La-La-La-Lagarde – 5 June 2012

Chrissie Lagarde goes gagagagaga

The Spanish Government is now openly admitting that doors into the credit markets are closing by the hour. But Finance Ministers of the G7 major economies have yet to take any action. Spanish Treasury Minister Cristobal Montoro sent out a dramatic SOS this afternoon poining out that the spread between the country’s 10-year bond and German/US debt was now in excess of 550 basis points. But all that happened was that his comments on Spain’s issues sent the euro down still further. Continue reading