Spain in state of total emergency

[Mich the Tester]

says ex-premier Felipe Gonzalez, the country's elder statesman.



He doesn't sound very optimistic. More of a half-empty guy?

Just as is so often the case with those who are called pessimists, he may well be right, and it may well cause big trouble for everyone.

Frankly I think the whole Euro discussion is a red herring compared to the dangers in Greece and Spain; in or out of the EU or the Euro, northern Europe is going to have to keep sending money to Spain and Greece to prevent them becoming failed states and sinking into a nationalist or military dictatorship which would start picking fights with other countries to 'restore national pride' or some such bulltulip. Just imagine it; Greek nationalist government starts picking fights with Turkey, Spanish dictator starts picking fights with Britain and siding with Argentina on the Falklands issue. I find it rather disappointing that while populist politicians rant on with their simplistic BS which the masses swallow voraciously, the more intelligent politicians (yes, there are a few) and most of the media seem to be doing nothing to explain to the public just how high the stakes really are.

Spain and Greece simply can't be allowed to fail; the currency can be changed and eventually some deal can be done on the debts, but the geopolitical consequences of failed European states with big armies could be horrific.

Just let me know if you want any more of my special brand of pessimism today.

[TimberWolf]

Forgot to post a link to the source: Markets braced as Spain faces 'total emergency' - World - DNA

[TimberWolf]

says ex-premier Felipe Gonzalez, the country's elder statesman.

, the worst crisis we have ever lived through

He doesn't sound very optimistic. More of a half-empty guy?