For those unaware, a fifth of Spain’s GDP is voting on whether to secede from the country on Sunday. Here is everything you need to know about the Catalan black swan.
For those unaware, a fifth of Spain’s GDP is voting on whether to secede from the country on Sunday. Here is everything you need to know about the Catalan black swan.
– Spain Defense Minister Warns Army May Intervene Unless “Catalonia Obeys The Rules” (ZeroHedge, Sep 9, 2015):
With Spain’s Catalan region on the verge of electing pro-independence parties and seeking autonomy from central rule, the government (clearly worried) has ramped up the rhetoric on what consequences lie ahead. In a rather stunning outburst for a supposed democracy, CNA reports, the Spanish Defence Minister, Pedro Morenés, assured that the army won’t act in Catalonia as long as “everybody fulfills their duty.” The Catalan minister for the presidency exclaimed Morenes statement was “out of this world,” and could only be made by “someone who is afraid of democracy.” The army will “enforce the Constitution,” Morenes concludes, unless “members strictly obey the rules.” As one pro-independence minister opined, “threatening and trying to intimidate means that you are only left with stupidity.”
– Sorry Troika, Spain’s Economic Recovery Is “One Big Lie” (ZeroHedge, Aug 12, 2015):
During six months of protracted and terribly fraught negotiations between Athens, Berlin, Brussels, and the IMF, the idea that Spain, Italy, and Ireland somehow represented austerity “success stories” was frequently trotted out as the rationale behind demanding that Greece embark on a deeper fiscal retrenchment despite the fact that the country is mired in recession. For many in the periphery, the notion of an economic recovery is fiction, plain and simple.
– Spain Turns Down Oxitec GM Flies Release Again (Sustainable Pulse, Aug 7, 2015):
After protests by a broad coalition of NGOs against plans to release genetically engineered olive flies in Spain, the UK company Oxitec has now withdrawn its application. As reported by Spanish media, Oxitec was informed by regional authorities that the experiments will not be allowed.
After 2013, this is the second time that the company has failed to get approval for its application in Spain. Once released, the genetically engineered flies might spread throughout the Mediterranean region and all the locations where native populations of olive flies occur. A broad coalition of mostly representative organisations from Mediterranean countries are demanding that any release of these flies should be banned completely.
“We would like to congratulate the farmers and environmentalists in Spain on this important and successful outcome. Nevertheless, we have to assume that this will not remain the last attempt at releasing such organisms. The next generation of genetically engineered organisms is already in the laboratories”, Christoph Then says for Testbiotech. “Looking at scientific publications it is easy to believe there will soon be a surge in the release of organisms that cannot be controlled.” Continue reading »
“If you want a vision of the future, imagine a boot stamping on a human face – forever.”
– George Orwell
“It is the system of nationalist individualism that has to go….We are living in the end of the sovereign states….In the great struggle to evoke a Westernized World Socialism, contemporary governments may vanish….Countless people…will hate the new world order….and will die protesting against it.”
– H.G. Wells, in his book, “The New World Order”, 1940
From the article:
12. Digital protests: Writing something that could technically “disturb the peace” is a now a crime. Bloggers beware, for no one has yet defined whose peace you could be disturbing.
– The End Of Freedom Of Speech In Spain (Armstrong Economics,
Spain has shown that it is fully on board with the Brussels authoritarian direction of ending democracy. Those in power have simply convinced themselves that the people do not understand what is good for them so they must impose their will upon the people but raw force. How does this differ in any what from the justification of imposing communism? This is the death of all freedom and it is upon our doorstep.
Here are the new laws in Spain:
1. If you photograph security personnel and then share these images on social media: up to €30.000 fine (particularly if photo exposes violence used against a member of the public). This fine could increase depending on the number of Instagram or social media followers you have.
2. Tweet or retweet information or the “location of an organized protest” can now be interpreted as an act of terrorism as it incites others to “commit a crime” (now that “demonstrating” in many ways has become a crime). Sound “1984”-ish? Read about Orwell and his time in Spain.
– Germany’s Most Noted Euroskeptic Is Now In Control (ZeroHedge, July 12, 2015):
This weekend’s events in Europe have clarified who is really running the show across the ‘union’. Hans-Werner Sinn, Chairman of the Ifo Institute for Economic Research, vehemnt euroskeptic, and head of the so-called ‘five wise men’ advising the German government and specifically Angela Merkel, confirmed his call from 2012 for a “temporary grexit from the euro.” The right wing economist previously explained “Greece and Portugal have to become 30-40% less expensive to be competitive again. This is being attempted through excessive austerity measures within the euro zone, but it won’t work. It will drive these countries to the brink of civil war before it succeeds. Temporary exits would very quickly stabilize these countries, create new jobs and free the population from the yoke of the euro.” Anyone positioning for more centrist union-supporting rhetoric, hope is no longer a strategy as the hardest conservatives are now in charge.
– Why Greece Matters A Lot: The Case Of Europe’s Falling Dominoes (ZeroHedge, July 6, 2015):
Over the weekend, we showed why contrary to unfounded speculation that Greece is entirely contained, there are still extensive linkages when it comes to the fallout a Grexit would reap if not directly on private commercial banks which over the years managed to offload their Greek exposure to the Europe’s taxpayers….
… but on the sovereign economies of the Eurozone as well as the ECB, at first via the EFSF, then also via the SMP, the MRO, Target 2 and so on.
Overnight, Barclays took this analysis and also showed the absolute national euro exposure to Greece broken down by bailout program and also as a % of respective host nation’s GDP. What it found is the following: Continue reading »
… at this very moment, politicians from Spain’s Podemos to Italy Five Star movement are drafting memos demanding that the IMF evaluate their own debt sustainability. Or rather unsustainability.
– Did The IMF Just Open Pandora’s Box? (ZeroHedge, July 3, 2015):
By now it should be clear to all that the only reason why Germany has been so steadfast in its negotiating stance with Greece is because it knows very well that if it concedes to a public debt reduction (as opposed to haircut on debt held mostly by private entities such as hedge funds which already happened in 2012), then the rest of the PIIGS will come pouring in: first Italy, then Spain, then Portugal, then Ireland. Continue reading »
H/t reader M.G.:
“An article on Spain, and it’s so-called recovery. The second paragraph ought to warn everyone………..it is an IMF report. According to this article, Spain is recovering (regardless 50% of working age people under 25 are unemployed….that is the percentage they admit, makes one wonder what the real numbers involve), so is Portugal, Ireland, Iceland, ETC.
Spain is hurting terribly because none of the working people are earning, just treading water at best. When Greece falls, all the lies and holes in the other Euro economies will be exposed for the world……..They list the nations that exited the so-called bailout programs, but none address the growing unemployment in the real economy.
In Spain, 98% of all real estate inquiries are made by those who don’t speak Spanish, foreign greedy guts who want overseas properties cheap………….
At some point, something has to be done about the greedy guts, they have ruined the western economy, and the next hit is about to crush more millions of people…………
This article is worth reading, from the UK Guardian.”
– As Greece stares into the abyss, has Spain escaped from crisis? (Guardian, June 20, 2015)
In Madrid’s Puerta del Sol square, a small group of Spaniards waved the flag of Novorossiya, the territory once ruled by the Russian empire that encompasses swathes of modern day Ukraine. With the Russian revolutionary symbol of the hammer and sickle fluttering behind them, they denounced the arrest of eight Spanish nationals for fighting with the pro-Russia militia force the International Brigades of Donbass — the first police operation on European soil against foreign civilians who have joined the separatists in the country’s conflict-ravaged east. Continue reading »
– Theater Of The Absurd: Spain To Provide 14% Of Funds For Third Greek Bailout (ZeroHedge, March 2, 2015):
The ink is not even dry on the much fought extension of the Greek bailout, so hated in Greece because it perpetuates the “austerity” memorandum conditions and already Spain, which as a reminder is suddenly not on very good speaking terms with the Syriza government, is stoking the anti-austerity fire in Athens even more when moments ago Spain’s Guindos revealed that not only is a third Greek bailout imminent, and will cost Europe’s (and America’s via the IMF) taxpayers between €30 and €50 billion, but that Spain, whose banks were completely insolvent as recently as 2 years ago and were only “saved” thanks to the ECB’s direct and indirect (repo) bond monetization pathways will provide between 13% and 14% of the funding!
- “THIRD GREEK RESCUE’ TO BE EU30B-EU50B: SPAIN’S DE GUINDOS
- SPAIN TO PROVIDE 13-14% OF EU30B-EU5O 3RD GREEK RESCUE: GUINDOS
What makes the announcement doubly ironic (the broke bailout out the insolvent, or is the bankrupt saving the liquidating?), is that after yesterday’s allegation by Tsipras that there was a “conspiracy” between Spain and Portugal to derail the new Greek government, earlier today German Finance Ministry spokesman Martin Jaeger tells reporters in Berlin that “Tsipras’ remarks that Spain and Portugal took negotiations over Greece’s bailout to the brink of failure in a bid to avoid domestic political consequences was “a very unusual foul play.” Continue reading »
– Greek Contagion? Spanish/Italian Bond Risk Surge Most In 4 Months (ZeroHedge, Feb 9, 2015):
With Spanish and Italian leaders desperately running around to any and every media outlet to proclaim themselves economically fit and deny deny deny what Greek FinMin Varoufakis said yesterday, it appears the market has a different perspective. Portuguese bond spreads are 16bps wider and Spanish and Italian bond spreads are 12bps wider – their worst day in almost 4 months – as it appears Grexit fears are starting to creep into the rest of the periphery.
– Greek Social Contagion: Tens Of Thousands Rally In Support Of Spain’s Anti-Austerity Podemos Party (ZeroHedge, Jan 31, 2015):
Less than a week ago we warned, “today Athens, tomorrow Madrid,” and sure enough, emboldened by the success of Syriza in Greece, the people of Spain have turned out in their tens of thousands in Madrid at a demonstration called by the insurgent Spanish leftist party Podemos. As The Independent reports, Podemos, which means “we can”, has surged into first place in opinion polls in the few months since it was set up in the summer of 2014. It is now ahead of the centre-right Popular Party and centre-left Spanish Socialist Workers’ Party in many opinion polls. Podemos’s policies include a universal basic income, increased democracy, crackdowns on tax avoidance, and increased public control over the economy. Most worrying for the status-quo huggers in Brussels, Podemos has also wants to reform the European Union, describing the current euro arrangement as a “trap.”
– Rallies staged in over 30 Spanish cities against tough new anti-protest law (PHOTOS) (RT, Dec 20, 2014):
More than 30 cities in Spain have expressed their anger over the so-called ‘gag’ legislation that criminalizes social protest and, demonstrators say, curbs the freedom of expression.
The slogan of the movement is “Gag Law, why do they want to shut us up?” and unites several groups of citizens spearheaded by the “We Are Not Criminals” civil platform. Continue reading »
– The New Exodus: 700,000 Young Spaniards Have Left Home Looking For Work Abroad (Sovereign Man, Dec 4, 2014):
When Francisco Pizarro returned to Spain from the New World in 1528, he told King Charles I of the vast material riches that were found in abundance on Peru’s shores.
He petitioned for permission to conquer the new lands in the name of the crown, and was granted governorship over a vast amount of territory as long as he succeeded in conquering it.
Hungry to get their hands on Incan gold, some 168 Spaniards joined him on the conquest.
In the first battle, the Incans lost 2,000 men while the Spanish lost only 5. Continue reading »
– Catalanstrophe – 81% Of 2.25 Million Voters Choose Independence; Government Responds: “Useless Sham” (ZeroHedge, Nov 9, 2014):
Prime Minister Mariano Rajoy has a problem. Despite his best legal and propoganda defenses (and harsh weather conditions) today’s symbolioc vote for Catalonia independence proceeded… and the initial results (with 88% of the vote counted) are in:
- *TURNOUT IN CATALAN BALLOT WAS ABT 2.25 MLN, GOVT SAYS
- *81% BACK INDEPENDENCE IN CATALAN BALLOT
The Spanish government is saying the “data is not valid” and is investigating the illegal ballot calling it a “useless sham.” Catalan President Mas says pro-independence parties will meet this week to put pressure on Madrid.
Catalan President Mas speaks… Continue reading »
– The Economy Of The Largest Superpower On The Planet Is Collapsing Right Now (Economic Collapse, Nov 5, 2014):
How do you fix a superpower with exploding levels of debt, that has a rapidly aging population, that consumes far more wealth than it produces, and that has scores of zombie banks that could collapse at any moment. You might think that I am talking about the United States, but I am actually talking about Europe. You see, the truth is that the European Union has a larger population than the United States does, it has a larger economy than the United States does, and it has a much larger banking system than the United States does. Most of the time I write about the horrible economic problems that the U.S. is facing, but without a doubt economic conditions in Europe are even worse at the moment. In fact, there are many (including the Washington Post) that are calling what is happening in Europe a full-blown “depression”. Sadly, this is probably only just the beginning. In the months to come things in Europe are likely to get much worse. Continue reading »
– Greece’s Neo-Nazi Golden Dawn Registers As A Political Party In… Spain (Zerohedge, Nov 5, 2014):
As the ‘new’ alternative political party – “We Can” – surges to the lead in polls in Spain, it appears extreme parties from around Europe are taking note. As KeepTalkingGreece reports, the Spanish branch of the neo-fascist Golden Dawn party has been officially registered as a political party in Spain. Between Catalan secession, record youth unemployment, and government corruption, throwing some right-wing extremists into the mix should ‘help’.
– Goldman and Blackstone Enter Spanish Real Estate – Pain and Suffering for Poor People Immediately Ensues (Liberty Blitzkrieg, Oct 24, 2014):
Last year Madrid’s city and regional governments sold almost 5,000 rent-controlled flats to private equity investors including Goldman Sachs and Blackstone. At the time, the tenants were told their rental conditions would remain the same.
But as old contracts expire, dozens of people have received demands for higher rent, been told their rents will increase dramatically, been threatened with eviction or moved out to escape the insecurity. Thousands of Spain’s poor now depend for their homes on the generosity of private equity.
– From today’s Reuters article: Why Madrid’s Poor Fear Goldman Sachs and Blackstone
Less than a month ago, I warned the people of Spain that U.S. financial oligarchs had their sights set on the nation. The post was titled, Your Wall Street Slumlord Arrives in Europe – Goldman and Other Financial Firms Launch “Buy to Rent” in Spain, and in it I wrote:
Now that the financial oligarchs have had their way with the U.S. property market, to the point that average citizens can’t even afford to own a home (Zillow recently showed that 1 in 3 homes are unaffordable), it appears they have turned their sights overseas. What better market for bailed-out bankers to feast on than Spain, with its 50%+ youth unemployment rate and a continued depressed real estate market.
It didn’t take long for the results to be felt. Reuters published an article on the topic today. Here are some excerpts: Continue reading »
– Ebola Pandemic Hits Germany, Turkey, And Australia As Infected Spanish Nurse Went Un-Quarantined For A Week (ZeroHedge, Oct 9, 2014):
Despite the still confident exclamations from officials that the Ebola pandemic is ‘contained’, more and more nations are admitting to Ebola-symptomatic cases or bringing infected patients back from Africa for treatment. Australia has its first potential case of the deadly disease, as Bloomberg reports a nurse who returned from volunteering in Africa has developed Ebola-like symptoms. Despite claims that Nigeria’s outbreak is over, a Turkish worker there has been hospitalized in Istanbul after signs of high fever and diarrhea. Health officials from Germany confirm a 3rd Ebola patient has arrived in the country – having contracted the disease in Liberia. And finally, just as in the sad case of Thomas Duncan in Dallas, The Guardian reports the infected Spanish nurse went untreated and unquarantined for a week despite reporting symptoms at least three times to hospital officials. It seems the world is ill-prepared for this…
Bloomberg reports, a nurse who treated Ebola patients with the Red Cross in Sierra Leone was hospitalized in Australia after developing a low-grade fever, health officials said. She is being tested for the deadly virus.
– Tuesday Humor? Spain’s Ebola Containment Protocols (ZeroHedge, Oct, 7, 2014):
We noted earlier the insider’s account of the dismal protocols in place for managing Ebola in Spain’s hospitals… but a picture paints a thousand highly contagious words…
This is how a spanish hospital is isolating an ebola-infected nurse
– Spain Warns “Something Went Wrong” As Suspected Ebola Cases Rise In Madrid (ZeroHedge, Oct, 7, 2014):
Despite being described by Spain’s public health director as “a national jewel,” the head of Spain’s Nursing Council warns “something went wrong” in the health care system’s protocols. As RT reports, Spanish health officials have 4 patients interned including infected initial nurse, her husband, and a 2nd nurse (male). Furthermore, 22 more possible Ebola cases are under surveillance having had direct contact with the infected nurse during her vacation after being infected (officials have said they ‘don’t know’ how she became infected with the deadly virus). Images within the hospital show “irregularities” and make-shift isolation units and an insider account said “I do not want to create social alarm, but explain what is still a reality everyday for a few months of nursing staff at the ICU.”. One researcher noted “air traffic is the driver.,” and added ominously, “it’s just a matter of who gets lucky and who gets unlucky.” Continue reading »
By now it should be clear to everyone that any myth that the Ebola epidemic, which has clearly gone global, is contained is about as real as the S&P 500 at 2000. And if it isn’t, the latest confirmation came moments ago from BBC which reports that a Spanish nurse who treated an Ebola victim in Madrid has contracted the virus herself in the first case of contagion outside Africa, health officials say. What is different about this case is that the nurse contracted the virus in Madrid while she was part of the team that treated Spanish priest Manuel Garcia Viejo, who died of Ebola on 25 September, despite being treated with the same drug regiment that previous is said to have worked on US Ebola patients. Continue reading »
– Spot The Total Logic Fail (ZeroHedge, Sep 29, 2014):
It appears the leadership in Spain has reached its panic-point. Following Catalonia’s President Artur Mas signing of a decree calling for an ultimately democratic referendum on independence for the region, Spanish Prime Minister Rajoy uttered this mind-numbing phrase:
- CATALAN VOTE PROFOUNDLY ANTI-DEMOCRATIC, RAJOY SAYS
It appears Rajoy’s perspective on democracy and the will of the people is a little different as the situation has become serious enough that he has gone full-Juncker.
“Catalonia wants to speak,” he said after signing on Saturday. “Wants to be heard. Wants to vote. Now is the right time and we have the right legal framework to do so.”
The referendum’s two questions Continue reading »
– Catalonia president orders independence referendum on Nov. 9 (RT, Sep 27, 2014):
The president of Catalonia, Artur Mas, has signed a decree calling an independence referendum for Nov. 9. The secessionist drive of the Spanish region has been rebuked by Madrid, which vowed to block the vote.
Spanish Prime Minister Mariano Rajoy has called a government meeting Monday that is expected to provide a legal response to Barcelona’s announcement. Madrid plans to challenge the vote in the constitutional court. Continue reading »
– Martin Armstrong Warns “Spain Is Moving Towards Civil War” (ZeroHedge, Sep 11, 2014):
Submitted by Martin Armstrong via Armstrong Economics,
- *SPANISH GOVT SAYS 470,000 TO 520,000 DEMONSTRATORS IN BARCELONA
- *BARCELONA POLICE SAY 1.8M PEOPLE AT PRO-INDEPENDENCE DEMO
The Spanish government is militarizing gearing up for violent protests against the EU that are expected to turn up before a hot autumn. Spain is now equipping the police with about one billion million euros with new combat equipment. Violent protests in Spain since the crisis began almost a daily occurrence. Movements such as 25 de Mayo or the Indignados call Spaniards of all strata of the population to protest against the government on the streets. The police will always respond violently. They cover up their brutal responses by banning any video of police beatings making it a crime in itself. This is certainly illustrating the loss of freedom and any democratic process within Europe. The police scandals have only charged the atmosphere within the population and we may see this erupt into civil war as we move forward. Continue reading »