For the Spanish economy, the precipitate nationalization of BFA-Bankia is
alone the principle of a new wave of liquidity and of problems for the Spanish
banking that alone it will conclude I fear myself with the rescue of the
country. And I don't say it alone for the problem of the banking, but for the
whole economy of Spain that is destroyed by the governments' that have gone
from 1978 blame. The governments of the PSOE and of the PP they have never been
political, but merely ambitious and taken advantage of characters that were
devoted to exploit the benefits of the entrance of Spain in the European
circuits after Franco's death.
Not alone it is the banking the one that is in among having said, although
now it is the acoustic speaker that accuses the unnatural situation that is exploiting
us in the face. He said yesterday that is impossible that an economy of the
size of Spain possesses four systemic banks, since all our GDP is unable to
sustain neither to one alone of them, it happens to us with the banks, like
with the trains AVE, we have more than Germany and France meetings, countries
that bend us in GDP notice well they bend us in economic resources. But they
don't finish the misfortunes to that our rulers have met us here, be which is
their color or tendency, it is that in combination with them, it has been
created by means of them, friend or parental, the creation of a
"private" net of companies, all them based alone in the services and
that they don't add added value some to the productive economy, they are simply
you scheme of sucking rates and money to the Spanish town. For example:
Telefónica, Iberdrola, Enel, REE, Endesa etc.
There is another group of companies of the same foundation origin that has
been devoted to explode and to despoil the benefits that today drags us to the
European intervention, that is to say they are the real estate monsters, and
manufacturers of empty and useless infrastructures that not alone they don't
create wealth but rather they have created the debt garbage, and the
unjustified costs that today has to eat up you and me friend reader. I refer
to: ACS, Ferrovial, FCC, Works, OHL, Metro Bacesa, Abertis, Natural Gas, Repsol
etc.
The whole fabric industrial and economic Spanish is false, neither in the
banks there is the money that they need, neither the industrial fabric can be
sustained in Spain because there is not base some of production neither of
export, when we read in the newspapers of economy that ACS for example, it will
build a bridge in such or which foreign country, I begin to cry because that that
in fact says, it is that it will finance with money to Spanish credit, a work
abroad that it got paid when he can, and that it didn't also occupy neither a
single manpower Spanish unemployed, I roast if it will make a money that
neither we will see neither it will be good us here for anything.
This is the reality of Spain that reality that it doesn't like that he is
discovered, and for that reason the or the shift governments make the
impossible thing to hide it, until the end of the bubble arrives and everything
explodes and it is that this it is the reality, it is not the Banking it is
only the hit capacity that has exploded also, this was what sustained the false
greatness of the Spanish managerial fabric.
They condemn this way now us in Argentina and Bolivia, and we will already
see where more, because there they have followed the same pattern, to enter, to
see, and to despoil, if was not this way, it would not be they possible to
those countries to continue alone, without the support of the managerial base
that makes work the petroleum and the electricity in their territories, but I
eat what these Spanish companies make in fact, it is to mount the intrigue in
cardboard stone and nothing else, because it stops that they stay it and
everything continues equally.
And they don't create that this apocalyptic vision of the national truth
and of our managers and political and capitalist masters be alone an impression
of my gotten worked up mind, by no means. In a column published in Financial
Times, Roubini assures that the Spanish banking will need up to 250.000 million
Eurus this year to fulfill the capital obligations imposed by the European Bank
Authority (EBA). "With the Spanish economy in abrupt contraction and with
the unemployment ascending, it was unavoidable that the Government had to
rescue banks. But this alone it is a piece of the puzzle. Without growth, the
Spanish State will need a rescue for itself", the economist of Lebanese
origin affirms.
With the new demands of provisions imposed by Rajoy’s Government, the
banking will cover around 50% from its exhibition to the brick. However, that
would imply that it would not be "neither a euro" to cover the
possible derived losses of the mortgages loans and the corporate debt and the
private debt of which nobody wants to speak. And the silly question is from
where Spain will take out it governs who governs the necessary money to cover
these holes, more those that there is already created for example as the cost
of the unemployment, without an industrial source that produces wealth.
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