and That’s The Good News
The control of the Spanish regional government Castilla-La Mancha changed from the Socialists to the Popular Party last May, and when it did the Popular Party found that the government had no money.
|Spanish Government Facing Angry Creditor|
And in the rest of the country
In all, the Spanish public sector is late with an estimated €50bn due to construction companies, suppliers and service providers.
the interest rates on 2 year Greek debt in the secondary market hit 45%. And Greece ’s economy has just about stopped growing so the government will implement policies to make it grow even less. France
Agence France-Presse/Getty Images
Customers at a bank in central Athens,
above; many Greeks have been withdrawing
large sums, squeezing banks.
When European officials were asked why they could not develop a plan to fix the European economy they replied that they certainly could develop those plans, and had already developed at least 137 so far, with several more on the way as soon as the most recent plans were discredited or shown to be unworkable.
But what about Greek banks? Well there has been a slow, but steady run on Greek banks, which now has reached the point where the Greek banking system could fail.
Have a nice day Europe.