Rescuing Banks in Spain & Germany
Being german citizen living in Spain I have been ashamed with the german government "rescuing" banks that had driven themselves into bancrupcy with tax payers' money and Spain not having to do so. In Spain there has been a meeting with government and banks where supposedly none of the banks had asked for government funds in order to be rescued - we don't know what really happened there (it must have been around 2010) as the meeting has been held behind closed doors (noone had been admitted but bank managers and representatives of the government) and the only ones who stated anything were the banks saying that nobody requested anything. "Spanish banks are the best ones in the world", as everybody knows - this has been a usual statement made by ALL spaniards who cared about the banking system - (they say the same about their social security and pride themselves for Obama's people having been in Spain to learn from the spanish social security - what 90% of these people don't know is that Obama's assessors had been in all european countries to study the social security! As the spanish government "only stated that they have been in Spain", people like to think that they have "only been here"!).
Back to banks!
This week we had the downfall of "Bankia" (which has been among the best banks in the world - as I have learned in these eleven years in Spain) and just for curiosity today I looked up the "unbelievable" and criminally negative figures of german banks. Which in the end has cost german taxpayers 13.000 MILLION €uro!!! This figure has been published by FOCUS on April 27th 2012. This is the figure for ALL banks that "needed" to be "rescued" for misleading clients' funds - we don't know how much the managers charged for driving these companies into bancrupcy (when am I going to get a company to lead into bancrupcy and get millions from it?).
Today it has been published by El Pais that only the Bankia Group's "toxic actives" are around 30.000 Million €uro! This is three times more of the whole of the german banks needed .... only by one group! There is no "Santander", "BBVA" nor the "Cajas de Ahorro" (which have had a massive amount of fusions lately, so noone knows what is going on anymore) or other "big banks" in the country.
We don't know yet whether the government is willing to bail out one of the "best banks in the world", but it seems to me that they will have to, as they are "relevant to the system" (for keeping it going - did anybody ask anyone who actually wants this system to keep going on like that?).
Our new spanish government says that they won't do it, but they did the same with lowering the cost for companies to fire their people - which in the end led thousands of companies to laying off workers for literally no money, etc. "pp".
Is there any reason for taxpayers keeping on paying their taxes? Taxes in Europe had the intention of keeping social peace, allowing almost evcerybody a life of dignity, but now it seems that all our taxes ore going into outer space, just to keep the commissions of some, asuring a life of poverty to those who can not take care of their own income anymore, which obviously has to be enough to face always growing prices.
Good night.
Saturday, May 26, 2012
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