Euro Funnel: 'Spain too big to fail'

The latest efforts to prevent eurozone members and the single currency falling into the financial abyss begin later. European ministers will meet to discuss the effectiveness of bailouts for Portugal and Greece. Concerns have been raised that the measures are not working in Greece. While Portugal's crumbling economy is desperate for a 78 billion euro rescue package. Across the border in Spain, there were outbreaks of violence during protests against austerity cuts as the country struggles to deal with record-high unemployment. And as RT's Sara Firth reports, Madrid could be next in line for an EU handout.
For more on the European bailouts, RT talks to Javier Diaz-Gimenez Professor of Economics at the University of Navarra, who is in Madrid.
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Category:

News & Politics

Tags:

• RT
• Sara Firth
• Greece
• austerity cuts
• bailouts
• Madrid
• Spain
• Ireland
• debt
• unemployment
• Europe
• EU
• protests
• loans
• Juan Manuel Lamet

[Tressco]

People, believing in a megalomaniac ponzi scheme like the interest system, are participants of a folie à plusieurs and should be held in a loony bin's security section for life to protect the public.

[MrGAB4444]

@selvmordspilot There has not been a better attempt than that set forth in the US Constitution. You cannot show me another system with greater potential, although in order for it to work as intended, it requires educated, well informed citizens

Unfortunately our liberal infected schools and universities have been mightily successful in making sure past & current graduates are not shown this information.

So we have collapse & it is going to get much worse even if enough people wake up soon.

[hhhaaa68]

@BobbyWarrenMiller Ha! Ha! That says it all in a nut shell. Thank you.

[blueguitarblue]

Spain's going down. Europe is being shoved into a corner of serfdom. NWO/EU/Vatican World Religion at your door...The West is being manipulated into 3rd World Realities.

[FlankerVT]

its all a scam.

[BobbyWarrenMiller]

It's this simple, all PROFITS are privatized and all DEBT is socialized.

[MrGAB4444]

@assym2006 see you in the streets my friend, good luck to us

[MrGAB4444]

@assym2006 "must be doing something right to have lasted so long "?your all 'subjects' !!!paying taxes to a 'royal ?family' ? who live in wealth &splendor on your backs? they wear fancy uniforms, have obscenely expensive weddings with YOUR taxes?& give birth to 'nobility' (what the fuck is THAT??) noble babies automatically better than you, more important than you, YOU MUST insure they live a splendid life of 'nobility and in royalty? You've been doing this to yourselves for how long? wake up

[MrGAB4444]

@assym2006 1000 years of getting it wrong, thank you for making my point. Europe will be awash in chaos and blood again (and blaming it on conservatives and capitalism)

[spector1991]

@ENJager you're right. there fixing debt with more debt. that does make scene to me.

[kennjohnsen]

@selvmordspilot

What do you mean, don't allow people to view my channel ?? you socialist are demons, you have gone to school for 20 years ( and costed the working man enormous sums ) you should understand my view.

Then you will be a parasite for the rest of your life, which I knew you would, it's just all excuses you are coming up with, so you don't have to work, and all in the name of the working man.

As an independent, I have been troubled with you all my life.

[ENJager]

If Spain tanks, that will likely mark the end of the Euro. None of these countries are settling with their debt like individuals would, rather they are postponing it into the future, however it will inevitably creep up again and will be considerably worse than it is now as Europe ages and interest payments pile up...it may ultimately be unsustainable.