Spanish free marketeers nationalize bank


In the Netherlands, rightist politicians who for years have advocated and practiced privatisation, now suddenly, just after a horrible train disaster and just before September elections, today start advocating railway nationalisation.

Also, today, news about the Spanish Rightist government. Like the Dutch VVD, “free enterprise” advocates (unlike the VVD, the Spanish Rightist party was founded by an ex-minister of dictator Franco, still defends that dictatorship, and gives lots of taxpayers’ money to the dictator’s daughter).

The Spanish Rightist government, and their fellow conservatives in Britain and elsewhere, are so really indignant when the government in Argentina nationalizes a Spanish Big Oil corporation.

And what do they do themselves?

From Reuters today:

MADRID, May 10 – Hoping to put an end to a four-year banking crisis, Spain’s government effectively took over Bankia SA, one of the country’s biggest banks, late on Wednesday after days of market anxiety over the lender’s viability.

The centre-right government

leave the “centre” part out

of Prime Minister Mariano Rajoy told Spaniards the banking sector was safe and said more measures to strengthen ailing lenders would come on Friday.

See also here.

I am afraid this will turn out as the Spanish taxpayers, who get poorer and poorer already, bailing out the private bankers. Who will get the bank back after tax payers’ money will have solved the problems. Socialism for the rich.

This is a Spanish video about a human chain demonstration against Bankia.

Spanish banking crisis roils global financial markets: here.

Greece: The leader of the Coalition of the Radical Left (SYRIZA) Alexis Tsipras stated on Tuesday ‘the expression of the public’s will has made the EC-IMF Accord of austerity measures null and void’: here.

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