Next up with the begging bowl will be Cyprus....

In the unlikely event anyone here is considering buying property over there 'don't'......

http://www.bbc.co.uk/news/business-18318252

Some things just don't add up. All the while the Euro is apparently in melt-down, other nations are queuing up to join the EU. This report is dated 1st June 2012:
http://www.baltic-course.com/eng/baltic ... ?doc=58096

I was thinking the same only this morning. All I can come up with is they want the same sweeties Spain and Greece have misused!!

Yes, I too can see why down-and-out outsiders would want to join the binge party. But I don't understand why any existing EU members would want to add to the demands and pressures on the system by supporting new admissions when everything appears to be broken. It is a similar situation to the UK Government allowing open borders to continue when the social security budget is already broke.

If they have a good economy , and are prepared to put money in , and not take any money out , its ok
if not , dont let them join

They that have nothing are willing to share it. so why not???

_________________
Its not always the biggest and the bestest, its them that make the least mistakes.

This is what gets me... huge surprise that the markets are not convinced!!

http://www.bbc.co.uk/news/business-18391824



The hundred billion Euro loan the eurozone have promised have if anything made the Spanish Governments position worse....

Yes it may bring their banking sector back into solvency but what about the unintended consequences? This particular loan repayments will have to take priority over Spanish sovereign bond repayments and without a doubt this will be written into the agreement. Meanwhile the markets worry that Spain now has two debts to repay and the bonds are the lower priority and consequently the interest rates on its 10 year bonds still edge up.

So Spain still cannot borrow on the international markets at a reasonable interest rate. It will soon be unable to afford its public sector wages or benefit payments. Cap in hand yet again..

This bail out over the weekend has not even lasted a couple of days before it fell apart.

This is an oxymoron of gigantic proportions how on earth do you borrow your way out of debit from A to pay off B ?

_________________
Its not always the biggest and the bestest, its them that make the least mistakes.

I notice politicians the world over are hardly even attempting to conceal the agenda behind all this manufactured mayhem: building an empire called Europe. Money has been the weapon of choice this time round.

If they are they still have to go some way to pull it off...... It will not include the likes of Greece, Ireland and Portugal who have just been rubber dicked big time.

Spain got a hundred billion Euro's no questions asked, each of the other 3 nations had to decimate their public services and sacrifice their third borns before they saw a penny!!

I sense trouble ahead!!

Spain is of course to big to bail if they crash out the Eurozone will fail..... Therefore nothing and I mean nothing will be off the table!!

10 year bond interest rates (Spanish and Italian) were going north again today.... Reckon this could play out before the Olympics kick off.