PDA

View Full Version : Spain nasty surprise: the revelation of piles of undisclosed debt. . .



alreadypacked
20th May 2011, 08:21
I have always thought that Spain was in worse shape than Portugal, looks like they have been hiding it, but why? Did they think things were going to turn around quickly, or were the hoping to get re-elected before anyone found out. Looks like Ireland mark II.

So Spain, this is how it turns out, you don't re-elect the current government, house prices crash at 1.7% per month. New government will put you in debt to IMF for the next 100 years, and steal your pension fund.

Spain Vote Threatens to Uncover Debt - WSJ.com (http://online.wsj.com/article/SB10001424052748704281504576331280001740702.html?m od=WSJEurope_hpp_LEFTTopStories)


MADRID—Weekend elections that threaten to drive Spain's ruling Socialist party from power in several regions and cities also promise a potentially nasty surprise: the revelation of piles of undisclosed debt in local governments that could undercut the country's drive to avoid an international bailout.

TimberWolf
20th May 2011, 08:27
Will they really be in debt for a hundred years? Doesn't seem worth it in exchange for 10 years party time.

MarillionFan
20th May 2011, 08:29
That'll be why my Lloyds shares are down again. :-(

alreadypacked
20th May 2011, 08:41
Will they really be in debt for a hundred years? Doesn't seem worth it in exchange for 10 years party time.

Compound interest :suicide:

ThomasSoerensen
20th May 2011, 09:19
This cannot be true.

No Spanish Socialist would ever do anything to present a better front than what is actually true.

Oh and it will not be Ireland II - it will become Ireland x 10.

AtW
20th May 2011, 09:23
At least they've got nice climate there?

TimberWolf
20th May 2011, 09:30
Manana


(that isn't the theme tune to the Muppets btw, that's manananana)

ThomasSoerensen
20th May 2011, 09:36
Manana


(that isn't the theme tune to the Muppets btw, that's manananana)

It seems the term for paying due bills is not Manana but "In 2.5 years".

Anyone wants to contract in Spain? haha - they should get that application form for the Afican League done sooner rather than later.

DaveB
20th May 2011, 10:26
Manana


(that isn't the theme tune to the Muppets btw, that's manananana)

Do you mean this one?


http://www.youtube.com/watch?v=tK9eADIfgTE

TimberWolf
20th May 2011, 10:34
Do you mean this one?


http://www.youtube.com/watch?v=tK9eADIfgTE

Yep, although on that one the sound has been disabled.

Doggy Styles
20th May 2011, 12:10
I have always thought that Spain was in worse shape than Portugal...I wouldn't be very surprised if more countries have big debt skeletons hidden in their cupboards.