Spanish Bank Bankia - Major Bailout

BBC News: Reports that one of Spain's biggest Banks ; its 4th; Bankia will ask for a major bailout by the Spanish Government. The article states that the Bank will ask for 15 billion Euros.

Lets Get Real:

The Greek exit from the Euro folks could be the spark that sees Spain having to ask EU for billions in bailout. It has been argued that there is a deep black hole of Spanish debt held by Spanish Banks. As the article notes the Banks have to deal with a busted property boom and of buying Spanish debt. Also as the article notes Spain's richest region, Catalonia also needs a bailout. Thus folks it can be argued that Spain is the next Greece, the contagion from Greece has already created a cancer in the weak body of the Spanish State. Thus IF Greece does exit the Euro expect the Markets to start attacking Spain, their bonds might hit the 7%. At present Spain is paying over 6% to sell its bonds, the new Spanish PM has stated that this cant go on forever, Spain can not afford to to loan at that rate. Thus the Greeks voters have the future of Greece and Spain in their hands when they vote on June 17th.

Greek Exit and the EU - Eurozone Crisis

Guardian Live - Greece: Reports that President Hollande of France has stated that he is not aware of any back up plans by the EU in the event of Greece leaving the Euro, the 1.56pm post states the following on the planning, " ..eurozone officials agreed on Monday to work on contingency planning for a Greek exit. ".

Lets Get Real:

Either the new French President is clueless or is being economic with the truth, the problem with Hollande is that he is still in election mode, the French are going to vote in their Parliamentary elections soon, the new left wing President does not want to find himself sharing power with a extreme right wing PM, that would be a perfect nightmare. The post notes that Hollande wants Euro Bonds as to bailout the PIIGS, the Germans have made it clear that is a firm NO. If the French want to bailout the Greeks, that's their problem. One can shout about growth in till one is horse, but its not a quick solution, just ask the Obama White House, their shovel ready projects were not that ready, and they didn't work, US unemployment went over 8%. The left has to get the fact that Government does not create jobs, its spends money it does not have, and different Parties have different interests, for the left its the Unions. Thus in a age of austerity the Unions want to spend, that's one way to become a modern Weimar Germany. Thus will we get June 17th with the Greeks still in the Euro, its a open question folks.

German Bundesbank and Greece

Telegraph Live - Greece: Reports in its 11.45am post of a warning from the German version of the Bank of England, the Bundersbank to Greece, the post notes the following, " ..it is putting any future financial aid at risk by failing to elect a government which promises to stick to the bailout terms. ".

Lets Get Real:

The Germans folks are not going to pay for the election promises of the French or the Greeks. This is a brutal warning, either elect a Government that the Germans want or your on your OWN. It is about time that someone from the EU leadership was this plain. The last such comments got the UK PM David Cameron in hot water, but such comments show leadership, its telling the voter the hard truth, no spin, just the harsh fact of reality. The German Basic Law, the German Constitution states that Germany can not take on the debts of others, the Germans recall the disaster that was the Weimar Germany and the raise of Hitler. Thus Greece has a brutal choice, IN or OUT, no discussions, no revised agreement, tough austerity or Greece is out of the Euro. Is Athens sleeping walking over a cliff, or have the Greek people lost the plot so much they cant tell what is real any more, lets see what June 17th bring folks.

The Markets and Greece - Eurozone Crisis

BBC News: Reports on comments by former Greek PM Lucas Papademos, the former PM has stated that the Greek Government might be making plans to leave the Euro. This has sent EU Stock Markets tumbling.

Lets Get Real:

One can postulated folks that Greece might be out of the Euro before the June 17th Greek General Election, how long can the Markets take this constant up and down from Euro leaders when it comes to the Greece and the Euro. At the G8 the Leaders made it clear they wanted Greece to stay in the Euro but meet the terms of its agreement when it comes to austerity, Stock Markets for some reason went up, now they are heading down again, from between 1% t0 2%. At present the FTSE 100 in the UK at 1.40pm is down 2.9%. There is another EU leaders meeting tonight folks, as the article notes new French President, Francois Hollande wants Euro Bonds, the Germans have said NO, they fear that they will end up having to bailout the PIIGS till forever. Thus either the Markets or the Germans might decide before June 17th that's enough is enough and give Greece a RED CARD, this blog sees 4/10 chance of that happening, its not out there folks, time is not the side of the Euro or the Greeks.

Romney and Women Voters

Guardian Live - US Election: Reports in its 1pm posting on a new ABC News/ Washington Poll Poll, it shows that the big lead that President Obama had with women has narrowed, the articles notes the following, " Obama leads among female registered voters 51% to 44%, a substantial shrinkage from April when he led by 57% to 38%...". Also more worrying for the Obama Camp as the articles notes is the fact that married women support Romney by 17%.

Lets Get Real:

If the Chicago Re-Elect Committee can not extend the Obama lead with Women he is toast in November folks, male voters on the whole support Romney by big margins from polls this blog has seen, Obama only wins if he has a double digit lead over Romney on Election Day. I hope the Chicago Election Committee does not take this advice but drop the class warfare argument, female voters are not interested in what Romney did in 1994 when he was in business, they want to know will the next President get the economy moving, will the next President deal with the debt issue. As women that normally have to deal with the home finances they know you cant have a 16 trillion and not deal with it, just going on about class warfare might make the uber NYT happy but it make sure that Obama is a 1 term President. Thus male and female voters know when they are being conned, Obama has not mentioned his own record so far, four years and what, a 8% level of unemployment, forcing ObamaCare down the throat of US voters. The billion spent by the Oval on the promise that unemployment would not go over 8%, the President and the Congress cant work together, its May folks, if President Obama wants to get re-elected he needs to bring in new staff, otherwise big defeat in November folks.

World War One Memoirs - Vera Brittain

Telegraph: Reports that a new film is being produced based on the memoirs of Vera Brittain. The film is being made by BBC Films.

Lets Get Real:

It's about time folks, Testament of Youth about the life of Vera Brittain before, during and after World War One is one of the most moving things this blog has even seen on big or small screen. A TV version was filmed in 1979, the articles states the following on the production, " ..The series has retained its place as one of the outstanding achievements in television drama of the golden age of British public service broadcasting. ". While readers of this blog might be surprised as the theme of the TV series and book is anti War, yes this blog still wants to bomb Iran, and Yes still supports the Iraq War, that does not mean one can not want to understand what Vera Britten went through during those deadly years, losing loved ones, the pain of memory. While this book supports diplomacy it does not support appeasement, and Iran is being appeased, so is North Korea, on the other hand before one supports a military action one should think about the results, Testament of Youth, the 79 series is a good place to start folks.

Threat from North Korea - Korean Front

BBC News: Reports on a threat from North Korea to increase its nuclear programme if the US and its Allies do not back off with their tough sanctions.

Lets Get Real:

This is a clear blackmail attempt by the Stalinist North Korean Regime, they have one ACE, they are nuclear armed power, every time the set off a nuclear test it brings Japan closer to going nuclear. There rocket attempts have been failures so far, one day one of their rockets might work. This would push Japan in to becoming a nuclear armed power, that would really scare North Korea and China, one of these days China will have to make a choice, does it support its close ally or does it switch off the lights. That decision could come faster than China expects, a new leader in North Korea will want to prove he is up to it on a military level, the rocket failed, so either a new nuclear test or some military threat to South Korea. The clock is ticking folks.