PressTV.ir
Wed Jul 25, 2012
5:48PM GMT
File photo shows a euro coin with the Spanish national flag in the background.
Spain’s worsening economic crisis and fears that the cash-strapped country might need a bailout that the eurozone can barely afford have caused a violent economic storm in European financial markets.
Fears soared high after the interest rate on Spain’s debt bonds climbed to a record high of 7.39 on Monday causing the euro to take a nosedive versus the US dollar and China’s Yuan, a recent report by Radio France Internationale (RFI) said.
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http://www.cultureindecline.c
http://www.cultureindecline.com
Time to wake up people!
We all are very well aware of
We all are very well aware of crisis in Spin, Greece, Italy and Portugual. The next ones in trouble are France, England, and finanally Germany which holds the whole European countries on its shoulder at this point. Most likely, the Union itself will be dissolved since there are no tangible solutions on the horizon. Every single nations are so highly leveraged to a point that any rescue plans cannot even be established in classical economic terms.
The whole European finance is heavily controlled by ex-Gold Sachs boys, and the new appointee for the Bank of England Chair is another Goldman Sachs golden parachute. Tonay Blair is now working for JP Morgan as an advisor. See how it works? With LIBOR, all they got so far are minor slaps on the wrist. Few hundred millions of fine does not mean much to these big banks which can generate several billions of dollars of revenue per day.
There were few arrests here and there, but there has been absolutely no arrests, indictment directly related to the LIBOR scandal which maybe the biggest fraud ever in the financial history.
Sadly enough, the biggest role of politicians, here in the US and Europe, and perhaps in the rest of world, is to serve financiers. We are waiting to see what our galactic friends will help us in dealing with this issue.