The Spanish PM with much fanfare announced his coup to obtain $130 billion
more from emasculated Eurogroup taxpayers (minus Spanish taxpayers, of course)
to rescue Spain's collapsing banking sector as a victory. For 24 hours even the
baffled paymasters, the governments of these long silenced taxpayers within the
eurogroup, joined the self-praise of the buffoon in Madrid. All these additional
funds have been promised to Spain for nothing in return, without merit and
solution to the core problem (the overall debt of Spain of now $1.35 Trillion)
and - most dubious and condemnable - without any legitimation from the nations'
taxpayers.
Instead of shooting and hanging the responsible charlatans who squander
hundreds of billions of dollars of public funds, and burning down the seat of
the EU commission, the voters are numbed and pacified, unaware of the sheer
scope of the massive fraud they have become victims of.
What kind of victory is that, Mr Rajoy (the Spanish PM), when you pile up
$1.3 Trillion in debt, never to be repaid, and the interest rate at which you
can try to refinance the debt soars to 6.48%, 0.6% above last Friday's level?
That difference alone will cost the Spanish people $2.9 billion extra per year!
One can only label this as victory when there is not the slightest intention to
serve the debt.
On top of that infamy comes the diminished sovereignty of Spain: the
creditors at least impose a watch group (the "Troika" of IMF, ECB and the top
Soviet, the EU commission) to monitor the activities of the Spanish treasury. In
the end, the troika will be accused of aiding and abetting the epic fraud on
European taxpayers.
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