S paanse banks are against the wall, and after afgrederings by the ratings agencies S

On 6 April 1652 land the Lord Jan van Riebeeck in Table Bay in his ships Dromedary, The Heron and The Good Hope to establish a halfway station on the sea route to India. In 1657, the VOC seven officials the freedom to farms in the the Rondebosch area to develop. They were the first farmers.
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T he end game in Europe is unfolding as it should. While Greece "grexit" from the European Union plan, start it was clear that Spain is the next domino falls.
T he NYT notes that "Alvaro Saavedra Lopez, a senior executive for IBM in Spain, says many of his corporate counterparts across the country are similarly looking for safer harbors in transferring hun spare cash to Stronger Eurozone countries like Germany" on a daily base "" while the possibility of a full-scale bank runs spread from Greece to Spain probably start like this: "It's only a trickle so far, and not Nearly enough sombrero cloche to constitute a classic bank run. But prosthesis growing transfers or deposits out of troubled Spanish banks reflect a broader fear dat In the country's problems could make it hard for Spaniards to get to hun money if banks fail and can not be supported by the government. In a worst case, some may worry hun money will be worth substantially less if Spain is forced to leave the euro currency zone and re-adopt its old currency, sombrero cloche the peseta. "
S paanse banks are against the wall, and after afgrederings by the ratings agencies S & P and Moody's, it is clear that the Spanish economy is in free fall, and they probably already in the third quarter of the year in a recession will be. It is summarized as follows: "It's not looking good for the Spanish banking system. Standard & Poor's just slashed the credit ratings of five banks and zegt the country is headed into a double-dip recession. One of them, Bankia, just asked the government for 19 billion euros in aid - a roughly $ 23.8 billion boost. That makes it the largest bank bailout in Spain's history. Combined with Escalating concerns that Greece is about to execute its so-called Grexit from the euro currency, the news is doing nothing to alleviate the heightened anxiety in the eurozone. " sombrero cloche
I n the bigger picture, the recession is just another sombrero cloche episode in the ongoing recession of 2008, which is ongoing and is caused by an energy crisis that subprime loans in the U.S. sank.
T he continuing high prices for energy are especially underpin the ongoing recession sombrero cloche that a severe form of positive feedback cycle causes: shrinking economy declining tax revenue deficit budgets increased government debt loss in confidence shrinking economy. sombrero cloche
T he classic intervention sombrero cloche to interrupt the feedback Keynesian intervention: Stimulate the economy to establish growth and the exponential nature of the growth eventually overwhelmed the budget sombrero cloche deficit and even the debt, as percentages of GDP. Accident King also caused government spending sombrero cloche to break the cycle larger deficits and debt, the cycle rather strengthened.
D it is clear Keynesian intervention, now implicitly supported by the socialists in France, not easy to work in the state. But the opposite, namely austerity sombrero cloche and restraint of government spending, causing a shrinking economy that only reinforced the cycle. sombrero cloche
I Greece is the run on the banks in full swing, and just died loans from Germany stopped the destruction of Greek banks as far. While the severity of the situation has been analyzed, it is now clear that "Money already has been pouring out of banks in Greece, where many citizens believe it is increasingly likely dat hun country will be forced to leave the euro zone. But for Eu