Throwing money at a problem will never fix the problem….. The will turn Spain into another greece with the bailouts… Alternative let some banks fail

Borrow €100. Jaysus they are not that bad off are they. ; )

Here we go again, it seems like the same story over and over again, just replace blank with countries furthest from Germany until you run out, then move inwards. Is there any possible end to this? I really hope so.

These rating agencies have a lot to answer for, they have the power but seem not to have the ability, do people not remember the ratings they gave to countries and companies just prior to the crisis………

Vote yes for stability and certainty!

The bailout to Spain is E100 billion. Italy will contribute E20 billion of that amount. But Italy will have to borrow that E20 billion on the open markets at nearly 7%. It will then lend on that E20 billion to Spain at only 3%! The whole thing is madness

DR MERKEL: BAILOUTS ARE NOT WORKING. The country gets a bailout – the markets rally for a few hours and then drop back again. The markets then demand even more money to be injected. It is like injecting heroin into a junkie – a quick high and then back down again – the junkie then looks for more injections

E100 billion means saddling every family in Spain with a debt of E14,000. It makes no sense to treat a debt crisis with more debt. Most of the governments contributing to the bailout fund are themselves running deficits. Europe is giving itself a transfusion, taking blood from one arm and pumping it into the other

What they should do is borrow their way out of debt.

That always works.

The rating agencies are doing their job. Hate to say it, but many European sovereign nations and banks are insolvent (BUST) as a result of neo liberal governing policies and light touch regulation of capital markets. The chicken has truly come home to roost.

I think even the pro government people quietly believe that their policies are not working. Countries are falling like dominoes and we need to find an alternative solution. Governments are just kicking the can further down the road and hoping the problem will go away. Ireland being one of the smallest economies is the perfect guinea pig. Austerity and fiscal tightening is not working so the European Union need to experiment with the opposite. If they could agree to put a hold on our debt repayments then we could use this cash to stimulate our ailing economy and get it back on track. Growth is the only way out of this, for all the nations in trouble. We cannot keep repaying a debt when the pot its coming from is gradually getting smaller and smaller.

I remember our previous incompetent arsehole of a leader Cowan berating the ratings agencies and financial speculators shorting the Irish banks when all along they were right and the lying toe rags in the banks were up to their necks in debt….no matter how we feel about them , the truth is ( despite what idiot politicians spew out) we are worth what the markets say we are…end of!!

I hope you have your cash converted into “real” money, Gold and Silver and not this fiat currency….

Actually Karl, many European sovereign nations are bust because they have been delivering unaffordable levels of social welfare and other State services, with overpaid and cosseted employees, to electorates who want everything but also want someone else to pay for it.

Yes we have a banking crisis but we also have an load of Sovereigns spending more than they earn crisis.