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http://www.huffingtonpost.com/2012/06/09/spanish-bailout_n_1583720.html
JPMorgan Chase analysts recently estimated that Spain could need as much as 350 billion euros, the Telegraph reported.
Second, rather than injecting the money directly into Spain's banking system, European nations will lend it to Spain. This means that Spain, already more than 700 billion euros in debt, could end up more than 800 billion euros in debt. The new debt has been promised at a considerably lower interest rate than the market currently charges Spain -- recently more than 6 percent for a 10-year loan. Still, every little bit of extra debt hurts.
It appears that Spain is supposed to borrow more until its debt problem is resolved. Seriously. These economists have to spend years in school to understand how this miracle is possible.
"The cheap, state-backed funds will mean that Spain’s national debt rises from the 72pc of gross domestic product (GDP) forecast this year by the IMF to about 80pc..."
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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