Spain nasty surprise: the revelation of piles of undisclosed debt. . .

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Doggy Styles replied

20 May 2011, 12:10
Originally posted by alreadypacked View Post

I have always thought that Spain was in worse shape than Portugal...

I wouldn't be very surprised if more countries have big debt skeletons hidden in their cupboards.
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TimberWolf replied

20 May 2011, 10:34
Originally posted by DaveB View Post

Do you mean this one?

Yep, although on that one the sound has been disabled.
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DaveB replied

20 May 2011, 10:26
Originally posted by TimberWolf View Post

Manana

(that isn't the theme tune to the Muppets btw, that's manananana)

Do you mean this one?
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ThomasSoerensen replied

20 May 2011, 09:36
Originally posted by TimberWolf View Post

Manana

(that isn't the theme tune to the Muppets btw, that's manananana)

It seems the term for paying due bills is not Manana but "In 2.5 years".

Anyone wants to contract in Spain? haha - they should get that application form for the Afican League done sooner rather than later.
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TimberWolf replied

20 May 2011, 09:30
Manana

(that isn't the theme tune to the Muppets btw, that's manananana)
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AtW replied

20 May 2011, 09:23
At least they've got nice climate there?
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ThomasSoerensen replied

20 May 2011, 09:19
This cannot be true.

No Spanish Socialist would ever do anything to present a better front than what is actually true.

Oh and it will not be Ireland II - it will become Ireland x 10.
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alreadypacked replied

20 May 2011, 08:41
Originally posted by TimberWolf View Post

Will they really be in debt for a hundred years? Doesn't seem worth it in exchange for 10 years party time.

Compound interest
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MarillionFan replied

20 May 2011, 08:29
That'll be why my Lloyds shares are down again. :-(
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TimberWolf replied

20 May 2011, 08:27
Will they really be in debt for a hundred years? Doesn't seem worth it in exchange for 10 years party time.
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alreadypacked started a topic Spain nasty surprise: the revelation of piles of undisclosed debt. . .

20 May 2011, 08:21
Spain nasty surprise: the revelation of piles of undisclosed debt. . .

I have always thought that Spain was in worse shape than Portugal, looks like they have been hiding it, but why? Did they think things were going to turn around quickly, or were the hoping to get re-elected before anyone found out. Looks like Ireland mark II.

So Spain, this is how it turns out, you don't re-elect the current government, house prices crash at 1.7% per month. New government will put you in debt to IMF for the next 100 years, and steal your pension fund.

Spain Vote Threatens to Uncover Debt - WSJ.com

MADRID—Weekend elections that threaten to drive Spain's ruling Socialist party from power in several regions and cities also promise a potentially nasty surprise: the revelation of piles of undisclosed debt in local governments that could undercut the country's drive to avoid an international bailout.
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