Spain: out of control, approaching the end game

[-:Undertaker:-]

http://www.eureferendum.com/blogview.aspx?blogno=82732
http://www.telegraph.co.uk/finance/f...s-markets.html

Spain: out of control, approaching the end game

Ambrose must be feeling fairly well vindicated. He cites ex-premier Felipe Gonzalez, the country's elder statesman, "We're in a situation of total emergency, the worst crisis we have ever lived through".

Instinct tells me that this is the end game. We've all been here before, and crisis fatigue has reached monster proportions. But this is too big, happening too quickly for the "colleagues" to handle. The situation is spiralling out of control.

There's actually too much happening today to be able to cope with it, so I am minded to use this as a running post - noting that the legacy media seems to be rather relaxed about it all. We have The Guardian putting its euro-story way down the list, but when you get there, it declares: "Spanish bailout fears rock European stock markets".

The strap line then tells us: "Brussels makes last-ditch attempts to prevent Spain becoming the latest eurozone country to need a financial bailout amid mounting fears of a banking collapse".

I may be a little old fashioned on this, but I would have thought this was slightly more important than the latest twists and turns on the Jeremy Hunt saga. Even in the august Times, it is vying with the news: "New York to ban large fizzy drinks" - riveting stuff. Is it me losing it, or are they?

The bank jog is turning into a bank run.

I can't see it going on much longer, the structural crisis is now rapidly lurching from each Eurozone nation to the next. It will be curtains for the Euro and the EU project itself when the paymaster Germany finally re-asserts herself as a proud nation who shouldn't feel guilty for two wars all those decades ago - and when Germany awakes in that manner, the wheels will literally come off the project which has been ridden on the basis of German war guilt.

I have to say, apart from the human costs of suicide - i'm greatly enjoying the show.

Thoughts?