Latest news out of Spain - government has spent 90% of pension fund!

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
04 Jan 2013 11:03 AM by moncapitan Star rating in South by South West. 117 posts Send private message

Things seem to be going from bad to worse on the fiscal side of things...

The latest news seems to be that the government has fleeced pensioners of today and tomorrow by spending 90% of the pension fund on worthless spanish bonds...  it can only end badly!

 

http://online.wsj.com/article/SB10001424127887323374504578217384062120520.html?mod=europe_home 



_______________________

Let's get deeply into debt. 




Like 0      
04 Jan 2013 1:13 PM by mac75 Star rating in Valencia. 415 posts Send private message

mac75´s avatar

 Wow this has been kept very quiet!! I new they had tapped into the reserve fund a couple of times but had no idea they had risked 90% of the fund! Very worrying. It appears to be an all or nothing bet before calling for a bailout!



_______________________

A donde el corazón se inclina, el pie camina.




Like 0      
04 Jan 2013 1:36 PM by Sanchez1 Star rating. 853 posts Send private message

Spanish bonds have done extremely well recently so the Social Security Reserve Fund is likely to be sitting on a nice profit!  The problem would be if they tried to sell their holdings as the price would collapse!!



_______________________

Read my blog: Spain Money Saving Tips and Offers 

Use TransferWise to send money abroad. A lot cheaper than the bank and other online currency exchanges!.

 

 




Like 0      
04 Jan 2013 1:52 PM by moncapitan Star rating in South by South West. 117 posts Send private message

 exactly Sanchez - there are no foreign buyers.

it is a buyer of last resort.  one wonders who will be buying spanish bonds in 2013!!



_______________________

Let's get deeply into debt. 




Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Local Charity in Huelva - 0 posts
Having your first argument in Spanish - 1 posts
Hi everyone! - 1 posts
Triumph Vitesse Convertable for sale - 1 posts
Wanted French speaking home help - 3 posts
The Government wants help with Red-Tape Reform! - 49 posts
Campo/Pueblo/Urbanisation? - 5 posts
Resident Non EU citizens travelling outside Spain - 2 posts
New Here - 0 posts
Hi there!!! - 2 posts
Buying a car - 0 posts
Vueling does anyone have experience of using this airline - 10 posts
Sailing in Costa Blanca area - 0 posts
New noisy bar in comunidad, Costa Blanca - 6 posts
HAPPY NEW YEAR. - 0 posts
Bank Properties? - 12 posts
Ryanair - An open letter that says it all - 24 posts
legal question if someone can help me please - 3 posts
Honda CRV luxury - 4 posts
trigger - 3 posts
Happy 2013 from Costaluzlawyers - 4 posts
A Record to be proud of.. - 1 posts
Non Resident Taxes HELP/ADVICE NEEDED - 13 posts
Prescriptions can anyone help - 2 posts
Wanted 3-6 month Rental Property - 1 posts

Number of posts in this thread: 4

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:
Email:


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x