@djfxtrader: #Euro Fin Mins to Discuss Giving Spain Up to EUR100 Bn in Aid, Euro Zone Official Tells Dow Jones-WSJ

@djfxtrader: #Spain Aid Likely to Come From ESM, EFSF in Form of Cash, Bonds, Second Euro-Zone Official Tells Dow Jones-WSJ

@djfxtrader: Draft: EUR100b "top figure" for #Spain aid. EZ ofcl tells us: "That figure is mostly for the markets." Payout "doesn't have to be that much"

Woohoo!!!! Who is next?

Spain, like Greece, needs 10x+ the initial bailout figure....they will milk this back and forth between country until the music stops....

I'll take $10 million.

How can it come from the ESM when it hasn't been ratified yet?, last I heard was only six had signed up

Quote:

Spain to Seek Bailout Up to $125 Billion in Days: Report

Translation: We're broke.

Please loan us $125 Billion.

This is supposed to make the markets sky rocket.

http://www.cnbc.com/id/47747620

I'm assuming this isn't a done deal. That this is being floated to stop bank runs from going critical. Methinks that lots of details need to be worked out. Good luck with this one.

One question though. Why didn't they just have Charlie Gasbag leak the info?

double or triple the amount

watch the dollar tomorrow and pm's

that will tell you whats up

Great, another Sunday/Monday ramp on the same old bull****.

Apparently the money comes from EFSF and/or ESM. ESM has no money and Germany has yet to ratify (good luck with that now) so for now (and perhaps forever) it will come from the EFSF. EFSF theoretically has 200B Euros, but that included a supposed 93B contribution from Spain which obviously isn't going to happen now. So the EFSF really has 107B, 100B of which will go to Spain. That 107B isn't real yet as I understand it; the EFSF needs to sell bonds and previous attempts have been a trainwreck

Summarizing EU funny math a supposed 200B fund commits 100B to Spain leaving it with 7B dry powder. Of course that assumes Italy pays its share, which it cannot. So by my funny math EFSF is very much in the hole now /sarc

Quote:

Summarizing EU funny math a supposed 200B fund commits 100B to Spain leaving it with 7B dry powder.

Maybe not even that much!

That leaves only the US (Uncle Sucker) to the rescue!

Quote:

We already knew the ESFS and ESM would lend Spain money, the question is in what manner? This uses up about all the capacity Europe has on it’s own.

http://www.wallstreetexaminer.com/blogs/....

Anybody else sorta surprised that this was announced early on a Saturday and not late Sunday/early Monday?

Timeline:

Now 100B.

2 months from now: Damage worse than expected. May need 150 more.

3 Months from now: Protest and riots as unemployment soars over 30% and the government proposes more cuts to spending.

4 months from now: Spain almost out of cash. Needs 250 billion dollar bailout immediately.

5 months from now: Damage worse than expected. Maybe need 300 billion more.


Wash rinse repeat until negotiations with bond holder for debt reduction, and possible overthrow of the government and threats of leaving the Euro.

Wash rinse repeat for Italy.
And Ireland.
An U.S.(So to speak)

So will this stop the runs on Spanish banks?

Has there been any official news or link that states a deal is DONE?

I haven't seen crap other than their working on it, nothing more though.

?????????????? LINK OR something?

great so we can move on to Japan now

Why do you guys want details or official news, you are just killjoys.

Just enjoy the ramp.

Jack has this right.

100 billion right now.

Give it a while, it will get a lot higher.

Wash, rinse, repeat - take it on the road, wash, rinse, repeat.

Uhhhh......uh oh.

http://www.zerohedge.com/news/here-they-....


Here They Come: Ireland Demands Renegotiation Of Its Bailout Terms To Match Spain



How long before the tickercon goes back to "1" and how long will it take to go "ka-boom"?

Oops!

Has Germany actually blessed this aid without strings attached plan? I don't think so, but I am not sure

I think the market reaction will be interesting. Spanish bank stock & bond holders will get raped for sure, Italian rates will probably jump (since they are now in the hook for a greater contribution to the EFSF). If banks drop to zero and Italian bonds rocket tomorrow could it freak out the market and ruin the rally party?

What the EU has agreed to amounts to a liquidity package as far as I know - it does not address the needs for additional bank capital - that remains Spain's job. How are they going to do that? For Spanish depositors this is a good move as it improves the odds of running the banks and coming out holding a fistful of Euros (he who panics first panics best, but he who waits until Germany sends money to the bank panics real good too!)

Sounds like some "strings" to me, Rvacha.

Quote:

The extent to which the latest Spanish bank bailout is coming without strings -- a key claim made by the Spanish government -- is in question.

ZeroHedge points to this article in El Pais, which includes this line.

In return for subsidized rates, Spain cede sovereignty over its financial system, but also lose tax sovereignty, contrary to what the Government said yesterday.

http://www.businessinsider.com/report-a-....