The American Empire in a Changing World


Friday, June 22, 2012

''Nigel Farage - Europe is About to Impose Extreme Repression''

a must read.........From King World News

''The total amount of money that is needed to shore up the Spanish banking system is more like 400 billion (euros), some people even think 500 billion (euros).  The trouble is that if Europe was to do that they would be penniless.  Because in theory they’ve got that money in their stability mechanism, although in practice all they’ve got are commitments from countries to put money in.  The cash isn’t actually there.

But even if they were able to rally around and get the cash, that would be it.  The money would have run out.  Then the market run would move to Italy.  So the scale of the Spanish banking problem is such that I don’t think Europe on its own is able to get Spain out of it.''

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