Latest news out of Spain - government has spent 90% of pension fund!
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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
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Let's get deeply into debt.
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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!
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A donde el corazón se inclina, el pie camina.
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exactly Sanchez - there are no foreign buyers.
it is a buyer of last resort. one wonders who will be buying spanish bonds in 2013!!
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Let's get deeply into debt.
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