Monday, June 11, 2012

A Snapshot Of Spain's Premier

This is an unflattering picture of Spain's Premier.  Its commonly understood that a debtor is in trouble when the level of indebtedness is low.  When the level of debt is high, the creditor is in trouble. The Spanish Premier is making a vain effort to convince his public that the recent bailout of Spain's banking system is a sign of the strength of Spain's banking system. Its more likely interpreted as a sign that Spain's banking system is weaker than he has pretended, and that the bailout was necessary to protect the eurozone.   The conservative party in Spain has something in common with the GOP in America.  It is always necessary to project an image of strength.  Any sign of weakness would be fatal to the image that of strength that is essential to their brand.

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