Posts tagged ‘bailout’

January 7, 2013

Heroes and Demons

People protest to defend the public sector against cuts imposed by the Spanish government in central Barcelona

Locksmiths in Pamlona, Spain, unanimously decided they would not help banks reclaim property from customers who fell behind their mortgage payments.  A locksmith interviewed by the Guardian recounted an awful story of how one sick, elderly man was barely able to get his trousers on before he was made homeless.  Whilst the action of the locksmiths turns them into heroes, the demons are less clear.

There is a lot of anger

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July 11, 2012

Hit the Eject Button

As the Top of the Bailout Pops continues I will provide a useful summary of the single currency crisis so far:

Bailout received:

Portugal €78 billion

Italy N/A (yet)

Ireland € 77 billion

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July 11, 2012

Beware of Greeks Bearing Racism

An article in today’s New York Times highlights the increasing levels of racist attacks on immigrants inGreece and the relative complacency of politicians, police and the public at large.

In economic downturns, immigrants are always the easy target to vent political inaction and even the local population taking their fair share of responsibility and ‘blame’ for their own phobia against paying taxes and penchant for loans.

Of course it is more newsworthy and scandalous

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May 25, 2011

Eurovision Debt Contest

What is going on in Euro zone, another country joins the downgrade top of the pops every week. Today Germany’s cost of borrowing increased, Italy yesterday, Spain last week and we’ve been reading about the Greek and Irish crises for some time now.  Without wanting to seem like a card carrying Tory, why are we legally obliged to help these countries in their bailout when we have enough of our own financial problems to deal and we do not use the Euro? 

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