LONDON — While the Spanish government was able to sell all the bonds it wanted to Thursday, it was the usual suspects that did most of the buying: Spain's increasingly fragile banks.
[First Sentence From a NY Times Puff Piece. No Need to Provide Link, it won't work]
[M]eanwhile, the same happens in Spain, where the government is forced to borrow money (at nearly 7%) it can hardly raise in order to shore up banks that are borrowing from the ECB (at 1%) to lend to the Spanish government at (7%) so that the latter can… bail them out. Not even the sickest of minds could make this up!
http://www.nakedcapitalism.com/2012/06/much-much-more-than-it-fears-syriza.html
[First Sentence From a NY Times Puff Piece. No Need to Provide Link, it won't work]
[M]eanwhile, the same happens in Spain, where the government is forced to borrow money (at nearly 7%) it can hardly raise in order to shore up banks that are borrowing from the ECB (at 1%) to lend to the Spanish government at (7%) so that the latter can… bail them out. Not even the sickest of minds could make this up!
http://www.nakedcapitalism.com/2012/06/much-much-more-than-it-fears-syriza.html