Catalonia’s independence would set off Spain’s debt time-bomb.
Why do they risk so much for little?
The only other option: “Orderly restructuring.”
When locals can’t afford to live there anymore.
In the land of NIRP refugees and “Reverse Yankees,” who will get crushed?
Spain’s 6th largest bank: “We have liquidity until the end of the year.”
Because Italy’s banking crisis and other problems have not been solved.
Everything is fizzling.
Taxpayer-funded subsidies to benefit banks, real estate agencies, construction companies, PE firms, and landlords.
At stake: €1 trillion-a-DAY in euro-clearing operations & other activities.