Thursday, July 19, 2012

What's It All For

Not that we didn't know this.

The up to €100bn, which the euro zone has undertaken to provide to Spanish banks is to do just that, it is only for that purpose and not for any other.

There is no link between assistance for bank recapitalisation in Spain and any other type of financial assistance, which might be requested at some further juncture by Spain or anybody else

The banks are more important than the sovereign or the people.