The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Checking, I find it was a reply to a question explicitly asking whether the EU is prepared for the case of emergency.
The finance ministry issued its own denial, which was more double-talk-ish: they denied that there is a crisis by saying that the rescue package criteria of insolvency and a danger to the stability of the Euro do not exist, Spain could sell on capital markets successfully, and Spain has its own national bank bailout fund as first line of defense; but that's no denial of the claim that Spain asked for help. Whatever is going on here the movers are highly irresponsible.
Is a country that would have government officials spread damaging rumours about a fellow Eurozone country "on condition of anonymity" the weekend before a major public debt issue fit to be a member of the Eurozone, especially when said country is the Eurozone's largest economy and its bonds are the benchmark for ther countries'?
Dumping Germany from the Eurozone might be a fitting punishment for the German government and banking sector (though a default would be a much better punishment), but that won't achieve anything for the rest. If the benchmark of German bonds is gone, interest rates would climb further; other Eurozone members weren't too high on solidarity either; and specifically Spain's indebtednesss to germany is rivalled by that to France.
At any rate, I will wait until there are explicit and public signs from the two governments before I believe that this ferocious "Spain-Germany Cold War" visioned in Anglo media is really on the horizon.
One whose delusions are out of fashion.
by melo - Jan 23 4 comments
by gmoke - Jan 15 5 comments
by DoDo - Jan 20 4 comments
by Frank Schnittger - Jan 16 104 comments
by ChrisCook - Jan 1 65 comments
by afew - Jan 5 44 comments
by rifek - Jan 5 9 comments
by DoDo - Jan 2 5 comments
by afew - Jan 251 comment
by melo - Jan 234 comments
by DoDo - Jan 204 comments
by Frank Schnittger - Jan 16104 comments
by gmoke - Jan 155 comments
by afew - Jan 544 comments
by rifek - Jan 59 comments
by DoDo - Jan 25 comments
by ChrisCook - Jan 165 comments
by melo - Dec 316 comments
by Metatone - Dec 3129 comments
by rz - Dec 2956 comments
by A swedish kind of death - Dec 2755 comments
by das monde - Dec 2726 comments