Submitted by Tyler Durden on 03/02/2015 - 09:53
The ink is not even dry on the much fought extension of the Greek
bailout, so hated in Greece because it perpetuates the "austerity"
memorandum conditions and already Spain is stoking the anti-austerity
fire in Athens even more when moments ago Spain's Guindos revealed that
not only is a third Greek bailout imminent, and will cost Europe's
taxpayers between €30 and €50 billion, but that Spain, whose banks were
completely insolvent as recently as 2 years ago and were only "saved"
thanks to the ECB's direct and indirect (repo) bond monetization
pathways will provide between 13% and 14% of the funding!
- "THIRD GREEK RESCUE' TO BE EU30B-EU50B: SPAIN'S DE GUINDOS
- SPAIN TO PROVIDE 13-14% OF EU30B-EU5O 3RD GREEK RESCUE: GUINDOS
What makes the announcement doubly ironic (the broke bailount out the
insolvent, or is the bankrupt saving the liquidating?), is that just
hours earlier Spain’s deputy minister for the European Union Inigo
Mendez de Vigo said that "
Greece should do less talking, do more reforms." But
why if Spain will be so kind as to provide the funding needed for the
next Greek bailout, and the bailout after that, and the one after