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Post by sigurdur on May 25, 2014 22:01:23 GMT
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Post by karlox on May 28, 2014 19:30:31 GMT
Thanks for your post and question! As for the article, basic info is correct, but I think it misses the point as for why Rating Agencies are raising our Credit Rating despite growing Debt reaching 100% o our current GNP. -First of all things could have been much worse. Such as it happened in Greece and Portugal and Ireland... but we were somehow "too big to fail" without blowing the whole EURO zone apart... so at one point there was a EU and ECB clear standing that our EURO was here to stay and that "watever conventional and non-conventional measures might be needed they would be taken without hesitation by the European Central Bank(s) etc." that makes investors a lot to think about... -Spain changed its own Constitution overnight introducing the mandatory priority of Debt refunding over any other expenses and needs for the end of days Spain might have, that includes education, health, defence... etc) Investors were very happy with this one also... -Spanish people is paying for the greed, corruption and crony capitalism of the past 30 years performed by crooked mediocres politicians being handled by finantial institutions and major energy and building corps. -up to 30% of total population is now below spanish poverty threshold. -up to 80% of people, including shrinkening middle-classes has been seriously affected... -Banks have been rescued with this terrible social pain being inflicted... Pain? Who cares, not investors -youth unemployment over 40% most places. Crowds of young well educated masses -education in Spain mostly paid by all-of-us as taxpayers- leave the country... -in 2007 over 20 millions of "pay-rolls" (total population 46millions) in 2014 barely 16 million and half of them with much lower wages... Having a job in Spain nowadays does not excludes you from margination and poverty... even graduated people are being offere insulting low-wage conditions... -BUT WE HAVE HANDLED THE KEYS OF OUR COUNTRIES SOVEREIGHNITY TO THE TROIKA and debtors so INVESTORS shouldn´t worry more about their money than they might worry about the future of our EU and EURO. Sadly enough -in my opinion- we have NO LIFE or better chance for our future quitting EURO or the European Union... -Our next parliament (2016) will show the deep decline of our two major parties PP (right) PSOE (left) and my bet is that Spain will experience our first "Gross Coalition" (like in Germany SPD and CDU). AND THAT, INVESTORS WOULD LOVE SO MUCH... But this won´t happen with my VOTE! Guess I ´ve said too much... sorry (that´s what you get for asking me  ) |
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