This tag is associated with 4 posts

‘Lying’ Rajoy must explain why Spaniards ‘paying ransom’ of bank bail out, say radical left.

United Left has called on Spanish prime minister Mariano Rajoy to ‘stop lying’ and demanded an explanation as to why the citizens are to ‘pay the ransom for a giant property scam’. The party’s federal coordinator Cayo Lara stated Sunday that the Spanish people would end up paying a debt that ‘wasn’t theirs’ and be … Continue reading

Should Spanish banks get another huge bailout?

Another huge bailout of Spanish banks is looming. Pundits and Brussels officials are reported to believe that, following a deep write-down of dodgy housing loans, a tonne of cash from the eurozone’s rescue fund – the €500bn European Stability Mechanism – is required to shore up the country’s financial sector. Why? A fresh panic is … Continue reading

The banks, credit and the way out of the crisis

FROM THE RADICAL PRESS – LIBERAZIONE (ITALY) Nicola Melloni Last Wednesday, faced with the threat of a recession that is already a reality in Italy and that, thanks to the fiscal pact demanded by Germany, risks bringing the whole of Europe down, the European Central Bank intervened with an injection of liquidity in the markets … Continue reading

It’s Christmas for the Banks, Rigor for the People – Attac

On 21 December, the European Central Bank made its biggest loan in its history to the banks. In total, the ECB lent 523 banks Euros 500 billion, for 3 years at 1% interest rate. This is an exceptional degree of support from the ECB, which officially justified the move because of the need for banks … Continue reading

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