Reactions have been swift concerning the Spanish request for "loans" to cover the refinancing of Banks in Spain !!!
As stated in the article in this Blog yesterday (Prudent Spain "jumps" the gun !!!) it would seem that Spain already knows full well what the AUDIT REPORT, which will not be ready for the next 15 days, will contain !!!
Any real, worthwhile, information about why (only) 100 Billion Euros of "loans" (not subventions !!!) are required has not yet been supplied.
Has Chancellor Merkel already identified who in Spain is responsible for this "sudden" crisis ? There must be several reasons, not just one, i.e. the international financial situation !!!
Spanish Banks seem to be squealing because they have lost money due to the downturn in the holiday housing market. Were these banks not covered by insurance for the investments and loans they made ?
Who would make loans to anyone in similar conditions, without any real information ? No taxpayer, but perhaps a top level executive in the EU or "EUROZONE" ?