MercoPress. South Atlantic News Agency
Spain’s public debt hits a record high in June equal to 92.2% of GDP
Spain's public debt reached a record high in June, the country's central bank said. The figure has risen to 942.8bn Euros, equal to 92.2% of the country's entire economic output, the bank said. This is nearly 15% higher than the same period last year and above the Spanish government's target limit of 91.4%, despite severe public spending cuts. Read full article
Comments
Disclaimer & comment rulesI feel sorry for the average Spaniard because this is a massive debt burden that is only getting worse with a shrinking economy.
Sep 15th, 2013 - 09:11 pm - Link - Report abuse 0But you have to ask yourself what the feck the Spanish government is doing investing so much time and effort on Gibraltar when the country is economically standing still or worse going backwards.
And to any unemployed Spaniards, please feel free to head downunder for a couple of years for work or permanently. Always welcome!
One word 'Deflection' the last refuge of a failing state.
Sep 16th, 2013 - 03:07 am - Link - Report abuse 02
Sep 16th, 2013 - 03:15 am - Link - Report abuse 0If that is true, you lot live in Atlantis...
@3
Sep 16th, 2013 - 05:14 am - Link - Report abuse 0Bit cheeky for a latino to claim deflection on Europe's behalf when your so called “Brother” nation, Argentina has politicians who make a career out of it.
Oh and if we're in Atlantis then in 1982 with the kind of deflection Argentina pulled, one might think that that country was a fucking Utopia.
@4 More than cheeky. Latam “countries” that only get their heads above water every few weeks - argieland, Bolivia, Ecuador, Uruguay, Venezuela.
Sep 16th, 2013 - 05:57 am - Link - Report abuse 0Yes yes, Spain is going to collapse again zzzz, mercopress.
Sep 16th, 2013 - 06:30 am - Link - Report abuse 0Despite being a modern western country with 21st century high quality of life, that survived though harsh earlier centuries, revolution and the age of empires. A banking problem is going to finish it off.
Did anyone else see the word “collapse” or did Vestige just read it on his colon's wall while he did more research?
Sep 16th, 2013 - 07:58 am - Link - Report abuse 0Pull ya head out ya numpty!
“and the age of empires”
Sep 16th, 2013 - 09:43 am - Link - Report abuse 0Yeah, but only because MS gave them more advantages than they really deserved, like monks on donkeys and mounted gunpowder units.
“Spanish banks borrowed 249.3bn Euros from the ECB in August, making it the 12th successive month their borrowing has fallen. In August 2012, they borrowed 411bn Euros from the ECB, a record high, reflecting almost total lack of investor confidence in the country's stricken banking sector.”
Sep 16th, 2013 - 12:10 pm - Link - Report abuse 0Do they mean this bank.....
“Banco Santander Chairman Emilio Botin said that the Spanish bank has 10 billion dollars available to finance infrastructure projects in Brazil”
I don't get it....do they borrow money from the ECB, to then lend it to Brazil?
How about making it available to finance infrastructure projects in Spain!
Or do they realise they would be flogging a dead horse.....throwing good money after bad!
Spain, [the seedless one]
Sep 16th, 2013 - 02:38 pm - Link - Report abuse 0Has only itself to blame,
It can blame no one else,
The Spanish governments corruption, and the using of Gibraltar to divert the attention of the Spanish people,
Once again a once great country and proud people,
Have been ruined by its own incompetent government’s corruption,
Spain has only herself to blame and no one else..
Still,
Like father, like son==argentina will follow in its father’s footsteps..lol
.
Never overlook the effect that speculative building has had on the economy. Plenty of overpriced, shoddily constructed “opportunities to invest in the dream that is Spain” jump to mind. All built on the bank’s money. That promptly fell through the floor big-time when the crunch came.
Sep 16th, 2013 - 04:59 pm - Link - Report abuse 0Couple that with crooked intendencia officials from the Mayor down in concert with local lawyers claiming to act “on your behalf” while really acting with the Mayor to sell you land that could not be built on (like the greenbelt in the UK). Then when you build your dream house the government comes along and knocks it down with no compensation.
To get compensation you have to sue the lawyer AND the intendencia and hope your suit is concluded in under 10 years or in some cases, before you die. There are presently 38,000 families in this position. 38,000! Some have sunk the best part of their retirement money into their “dream” properties which are now their worst nightmares.
Spain / Argentina, you couldn’t put a bus ticket between them for the crooked nature of the beast.
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