Euro exit: First Greece, then Spain…?

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Exiting the Eurozone may be painful for Spain, but it may have little choice.

Spain has been running persistent current account deficits. As writer Micheal Pettis says: “Its fundamental problem, in other words, has been the process by which its savings rate has collapsed, its cost structure forced up, its debt levels soared, and a great deal of investment directed into projects, mostly real estate, that were not economically viable.”

See the full article in Economonitor.

Meanwhile, get ready for the Spain banking bailout, which may only buy the country some time.

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Buttock Brainy

Let’s look at WWW15 LTL plate fundamental issues; LTL himself not sure who is paying for WWW15 bid. For CSL, is about money “from right hand to left hand”. When LTL bid for the no. he didn’t know the cost. Is this means whatever bid, JPJ needs only fill in the figure to win the bid. All ministers are eligible for one number, he didn’t exercise the option earlier. LTL even say numbers to him are not important, what is more important is service to the people. By the way LTL say no 15 is number after his grandfather’s car… Read more »

Andrew I

Now apparently the number is free. Maybe all those who bid might also like to ask for a refund and keep their number plates. Gherkin, you would like a refund for your WWW 69, wouldn’t you?

Yang

So L now come first before the K.

Fardeen

… Tiong Lai received WW15 plate free on his right hand from the left hand of Kong Cho Ha in the spirit of ‘I Help You, You Help Me.

Ah Pek Lim

anil, reading your subject heading i can’t help thinking along this line :

barang naik exit – fisrt gelakan, then amno ….?

najib manaukau

Don’t the steps taken by Spain remind you of Malaysia ? Well at least the world knows that the watchdog of Spain has been borrowing to try and build up the economy, period. Whereas Malaysia has been borrowing, in spite of the vast natural resources, a big percentage of the borrowings are going into the private foreign accounts of the scumbags and parasites…. One billion US$ just to buy the submarines and for what ? Just an excuse for some to inflate the purchase prices for the commissions it was offering ? Still the stupid ones are still ‘thick’ enough… Read more »

Yang

Sooner it will be Malaysia, not exit from euro.
Exit from being the 4 tigers and become the sick man of SEA

Gerakan K

Nothing worst than Afghanistan-ing Malaysia. By the way anil, why sports is missing from your blog? Focus too much on eating without sporting activities is bad.

Yang

Proof is in Kelantan where everybody is happy even after 20 years of PAS governance. Only … you keep propagating Afghanistan. Afghanistan is NOW better of than Na… 1Malaysia where peaceful people are being brutalized by the Malaysian Taliban

Gerakan K

If you dont know a thing about PAS and Kelantan please keep QUIET. Everybody is happy ??? Are you sure ???

Now see this: MB: Images of idols not allowed (http://thestar.com.my/news/story.asp?file=/2012/5/27/nation/11367924&sec=nation).

Please google this issue and get the complete picture about it.

Images of idols not allowed ??? Cannot have Buddha picture ??? Kuan Yin also cannot ??? How about other Pu Sa ???

Yang, you dont know a thing about PAS. Reject extremist and support moderate + progressive BN instead !!!

Yang

If not happy why 20 years with PAS. An isolated case and a mole hill turn propaganda by MCA media the Star. We won’t be so stupid like you to be swayed by an MCA media. There are also Buddhist and Indian temple in Kelantan. You can also find pork being sold. Don’t be an idiot influenced by an MCA media that tell lies after lies just like u. And don’t act smart as though you know more about Kelantan just because of 1 bias article from MCA Star. Yeh !! you forgot to mention about the pig abbattor in… Read more »

wira

Only idiots believe everything they read in the STAR.

wira

Has anyone forgotten the reason why the original white plaster Kuan Yin statue at the Kek Lok Si was shortened at the midriff region? Now this happened in Penang and happened during the ’80s.

Has anyone wondered why a pavilion was later added to enclose the Kuan Yin statue? This must be the only outdoor bronze Kuan Yin statue in the world that appears under a roof which, by definition, would place it indoor.

Raymond

People, if BN pays you with monies or election sweets or whatever, just take it, smile & leave. Just vote against BN. If not, BN will make you pay what you have just recieved from them. I bet many of us are still paying for the election sweet deals of the past in the form of BN corruption! If we don’t kick out BN now, you and your decendants will continue to pay these over-bloated … for years to come!!!

Gerakan K

OMG anil, this article mislead me to believe my favourite team Spain exited from EURO 2012 !!!

Yang

Its a fact that you are always in a state of denial.

Ho Ho Ho

Ho πŸ˜† Ho πŸ˜† Ho πŸ˜†

πŸ˜† More like your Ostrich … ex-leader kow tow koon EXIT from GILAkan!!! hehehehehehe πŸ˜†

Ho πŸ˜† Ho πŸ˜† Ho πŸ˜†