The Spanish PARADOX: the Spainistani REALITY

The Spanish paradox - from this Blog's perspective, the Spainistani reality - is that of a country that is shocked, gets passionate, suffers, enjoys with the victory of the Spanish Soccer National Team - from this Blog's perspective, the Spainistan Homo Soccer-Sapiens National Team - whilst at the same time is able to forget matters of enormous importance for their inhabitants.

First, the National Team players have won as extra bonus for being the Eurocup's Champions, more than 300.000 Euros each. Would you guess where this money will be taxed?: actually NOT in Spainistan, BUT in Ucraine and Poland, as a financial strategy to reduce the taxes, as they already did in Viena in 2008. Isn't this amazing?: these are the "heroes" that today and during the next weeks and years the Spainistanis will be adoring. The initiative in www.change.org to donate these bonuses to social needs seems not being very successful so far...

Second, did you realise about who was invited in the VIP tribune, who's not losing any opportunity to go?. Well, together, with Felipito, "the Little Prince", son of our elephant-killer king, Mr. Rajoy was there. This person is not only sassy/cheeky enough to go paid by the Spainistanis, but he does so at the same time that Spainistan is LITERALLY BURNING; the most serious fires in the last 20 years are right now massacrating the Comunidad Valenciana; this is taking place whilst several newspapers published that the PP Government CUT in 15 milion Euros and more than 200 employees the resources allocated for... FIRE PREVENTION!. And all of this whilst public events so important as the Formula 1 in Valencia City are still being payed (hundreds of milions of dollars) by this same government... PURE SPAINISTAN!.

Third, in parallel to the party that Felipito, "the Little Prince" and Mr. Cut-Rajoy are having, half of Spainistan is at war due to the recent measure adopted by the government, forcing even the pensioners to co-pay and re-pay drugs and even some basic health assistance. It goes without saying that these persons already paid for this, as they were taxed during the whole life for it. Today, tomorrow, this and the nex month, the Spainistanies will also forget that the direct re-capitalization of the spanish banking system, presented as a big success by our government, will not bring but more cut and dismantlement of the Social Welfare State. You only need to take a look to this video to understand till which point the people is pissed off with the banks…

We could just continue with the fourth, the fifth, the sixth... New and systematic tax increases are announced, including electricity, gas, VAT and, WARNING!, taxes so far with the hyper-reduced 4% will increase to the 18% in few days time!.

We don't want to spoil anybody's party or enjoyment. We just would like to say that this financial and values' crisis in Spainistan is serious ill enough as for this year not giving so much importance to a group of soccer-players, politicians and bankers that are not only destroying this country, but also enjoying by doing and laughing at those most vulnerable.

Paul was wrong, the risk premium is right

As you can see in the chart, Spainistan has surpassed today the threshold that before triggered the EU’s intervention in Greece (here obviously known as Greecistan). Indeed, for Greecistan the risk premium was in 500 when this took place, whereas for Portugalistan and Irelandistan was 517 and 544, respectively. The barrier has been crossed and, from this Blog, we do urgently call for a formal intervention of this country. Actually, this intervention will just formalize what is already de facto happening so no worries!. This actually takes place in a critical moment for Spainistan; please do refer to the Spainistan Nonsense Indicators’ list here.

As you may know, just a couple of days ago, Paul Krugman suggested the end of the game as follows: 1. Greek euro exit, very possibly next month. 2. Huge withdrawals from Spanish and Italian banks, as depositors try to move their money to Germany. 3a. Maybe, just possibly, de facto controls, with banks forbidden to transfer deposits out of country and limits on cash withdrawals. 3b. Alternatively, or maybe in tandem, huge draws on ECB credit to keep the banks from collapsing. 4a. Germany has a choice. Accept huge indirect public claims on Italy and Spain, plus a drastic revision of strategy — basically, to give Spain in particular any hope you need both guarantees on its debt to hold borrowing costs down and a higher eurozone inflation target to make relative price adjustment possible; or: 4b. End of the euro.

I think Paul was wrong and the risk premium is right; being honest and coherent, Spainistan should have had to be intervened today, the exit of Greecistan has already been decided and normal people, like me, are already transferring funds to other countries, such as Germany and Switzerland.

Let’s be all honest: we are in front not only of the end of the Euro, but of the end of the European project. It was never considered, it was actually never considered worth to try to tackle it and to build it up as a social-political one; now it won’t even be economical. And one of the main responsible for this to happen is Spainistan.

A Hurt Former Spaniard   

Bankers, Politians and Corruption

Very few times we will do something like referring to other's articles in this Blog; but the majority of those, it would be about pieces that clearly reflect a "relationship" between two or more of the factical powers that govern Spainistan and that we try to denounce here (see the Objectives of this Blog for further information).


This Elpais article tells a tale (in English) about the relationships between the Spanish Banking system, the political gobernance (or better, how does the Partido Popular "understand" and "interpret" it) and corruption with impunity. It says it all, so I will just shut up...