[Gocamino] Spanish Bank Crisis???

Howard Mendes hme347 at aol.com
Mon Dec 19 05:47:17 PST 2011 

Thank you Johnnie and Tim for your sleuthing and brilliant analysis of the financial situation in Spain.  I have visited Spain twice earlier this past year and I concur with your findings.  Despite the high unemployment and salary deductions imposed on Government workers, most of the population and businesses are doing remarkably well.  Economic conditions seem to be no worse than here in the U.S.


Leave it to the Murdoch interests to distort the facts and to conjure a panic scenario. The conservatives in the U.S. play the same game with phony "death panels" to attempt to defeat Health Care Reform.  The latest of the Republican Dirty Tricks is to assert charges of "Voter Fraud" to create hurdles to get to the ballot box for minority and other voters that they do not want to go to the polls.  


Sorry if this is off topic. However, the situations are somewhat analogous.



Howard Mendes, NYC


-----Original Message-----
From: Tim <tim at errecaldia.com>
To: GoCamino <gocamino at oakapple.net>; Santiagobis <Santiagobis at yahoogroups.com>
Sent: Mon, Dec 19, 2011 2:01 am
Subject: Re: [Gocamino] Spanish Bank Crisis???


Hi one and all,
Now thanks to that bit of research from Johnnie Walker it all begins to 
make sense.  The reference in Glen's original posting to hearing it on 
the BBC had me foxed but now it would appear that the original stories 
came from The Daily Mail and The Sunday Times and it all made perfect sense.

To explain, both of these are right wing publications with a very strong 
anti EU and anti Euro bias.  The The Daily Mail and it's Sunday sister 
the Mail on Sunday have a strong track record of creating stories from 
thin air or from, shall we say, very small beginnings.  The Sunday Times 
has been owned now for many years by News International which is of 
course the Murdochs and Rupert hates the very thought of any form of 
united Europe with social support for it's citizens because it flies in 
the face of his commitment to rid the USA of such 'entitlements'.

Doubtless at some point a junior official in the Foreign Office was 
given the brief of 'what would we have to do by way of support for 
British Nationals if one or more Spanish banks went down?' This would be 
normal practice for any government trying to protect it's citizens 
overseas and it's own backside against allegations of being 'unprepared'.

It seems to be much of a muchness with other stories in circulation at 
this moment many of which seem to be made up by partisans mainly on the 
far right of public opinion trying to either create problems where there 
are none or distract attention for the equally dire situation 'at home' 
wherever home may be.

After a three week trip in October which covered Spain from North to 
south and a large chunk of the centre I have to say that I concur with  
Claire's posting on Santiagobis that the Spanish and Portuguese seem to 
be doing quite well with their drives towards stability.

As an aside but related, I think we should all remember that a 
substantial number of Brits were forced to leave their European homes 
when the £ fell drastically against the Euro in 2008/9 and those of them 
on fixed incomes deriving from the UK found they could no longer afford 
to live in mainland Europe.  The £ is still weak against the Euro but 
The Daily Mail and News Corp fail to tell their readers that because it 
is 'an inconvenient truth' that doesn't fit in with their agenda.

Sorry that was quite long.  Have a great Christmas, all the best for 
2012 and for those of you coming through SJPdP maybe I'll see you in 
2012 otherwise Buen Camino.
Tim
PS for a light hearted look at the Daily Mail's reporting I suggest you 
look at this.  http://www.youtube.com/watch?v=5eBT6OSr1TI
great fun.

On 19/12/11 06:23, Johnnie Walker wrote:
> Hola
> You are quite correct about the press reports. I think the story first 
appeared in the Sunday Times: http://www.thesundaytimes.co.uk/sto/ and was then 
repeated on the BBC programme with Andrew Marr when he does a review of the 
Sunday papers.
> The term "Financal Dunkirk" appears to have been coined by the Daily Mail who 
also picked up the story: http://www.dailymail.co.uk/news/article-2075721/A-financial-Dunkirk-Britain-draws-plans-rescue-expats-Spain-Portugal-hit-financial-oblivion.html
> John
>
> www.johnniewalker-santiago.blogspot.com
>
>
>
>> Date: Sun, 18 Dec 2011 17:47:55 -0500
>> From: vjpulver at pulverpages.com
>> To: gocamino at oakapple.net
>> Subject: Re: [Gocamino] Spanish Bank Crisis???
>>
>> I heard a story on National Public Radio (NPR) this afternoon.  They
>> spoke of challenges for Brits having mortgages or banking in Spain...it
>> was a sobering story.
>>
>> "Ginn"
>> In Sunny SC
>>
>> -------- Original Message --------
>> Subject: 	Re: [Gocamino] Spanish Bank Crisis???
>> Date: 	Sun, 18 Dec 2011 22:38:00 +0100
>> From: 	Tim<tim at errecaldia.com>
>> To: 	Glenn Jilek<guha2005 at hotmail.com>, GoCamino<gocamino at oakapple.net>
>>
>>
>>
>> Hi Glen,
>>        I'm very puzzled by this posting of yours.  You heard this on the
>> BBC?  I have heard nothing like this and I have many friends living on
>> the Costas.  I tried searching the BBC and could find no information.
>> There are, no doubt, Spanish banks with problems as there are British
>> banks and indeed banks in the USA but a UK plan to provide financial or
>> any other form of succour is news to me.
>> It sounds a little callous in the face of such tales of mayhem but I'll
>> take this opportunity of wishing you all the best for the Christmas
>> festivities and for 2012.
>> Regards
>> Tim Proctor
>>
>> On 18/12/11 20:49, Glenn Jilek wrote:
>>>   I heard over the BBC that the Brits are making contingency plans to 
evacuate up to the million expats living there, who wouldn't have access to 
their funds in Spanish banks.  Apparently some of these people have invested all 
of their savings in banks that may be at risk.  It is was called "Preparing for 
a Financial Dunkirk".
>>>
>>>   Any comments or other information from any of you on this 
topic...especially those currently in Spain????  It sounds like Spain is on the 
verge of a major catastrophe.
>>>
>>>   Glenn
>>>     		 	   		
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