The Bank of Spain has acknowledged this week that, so far, it has only recovered 5% of the 51,303,000,000 euros the State ”lent” the Spanish banks to make them profitable again. Now the agency has admitted to El Pais that in total at least 38,012 million is ‘lost forever’, even though the government promised repeatedly that citizens wouldn’t have to pay for the crisis.
Not only has the public forked out 38 billion to prop up corrupt crony banks but the state could only avoid intervention by putting it in the sacred Spanish Constitution that interest and loan repayments must come before ALL OTHER payments.
So Spain is a now Cash Cow forever.
At least until Capitalism collapses. Despite low or even negative interest rates each Spanish person pays 721 euros each year in interest on the public debt.
The public have to pay, it’s in the Constitution.
As in Greece, Spanish debt is a safe bet for the ECB, the big Banks and the portfolios of the ‘investment funds’ that prop up the already rich around the world. Continue reading “Spain: Banks steal 38 Billion while Public pay 721 Euros a Year each in Interest”
Spanish cities reject Israeli Apartheid of Palestinians[/caption]
CNTE protest with parents and social organizations in Tuxtla Gutiérrez, Chiapas. 
The Free 
