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  • Spanish intelligence probing debt "attacks"

    http://www.reuters.com/article/idUSL...pe=usDollarRpt

    Spanish intelligence probing debt "attacks"-report




    MADRID, Feb 14 (Reuters) - Spain's intelligence services are investigating the role of investors and media in debt market turbulence over the last few weeks, El Pais reported on Sunday.


    Citing unnamed sources, El Pais said the National Intelligence Centre (CNI) was looking into "speculative attacks" on Spain following the Greek debt crisis.
    "The (CNI's) Economic Intelligence division...is investigating whether investors' attacks and the aggressiveness of some Anglo-Saxon media are driven by market forces and challenges facing the Spanish economy, or whether there is something more behind this campaign," El Pais said.
    Officials at the CNI were not available for comment.
    The report comes days after Public Works Minister Jose Blanco protested "somewhat murky manoeuvres" were behind financial market pressure on Spain.
    "None of what is happening in the world, including the editorials of foreign newspapers, is coincidental or innocent," Blanco said.
    Economists have cast doubt on forecasts that Spain's economy will grow by some 3 percent by 2012, on which the government has based predictions it will cut back on its gaping budget deficit.
    Some economists have said Spain's deficit could be more of a threat than Greece to the euro, the common currency of 16 European countries.
    Spain's deficit has soared to 11.4 percent of its gross domestic product amid its deepest recession in decades, but the government has pledged to cut the gap back to a eurozone limit of 3 percent by 2013 by cutting 50 billion euros in spending.
    Markets doubt that Spain will be able to cut back drastically on spending with unemployment running at 20 percent and a big slice of the budget in the hands of fiercely independent regional governments.
    Underscoring those doubts, the premium demanded by investors for buying Spanish rather than German government bonds ES10YT=RR has risen in recent weeks and the cost of insuring Spanish bonds against default by the government has also risen. (Reporting by Martin Roberts; Editing by Louise Ireland)


    (don's thread on the BullionBulls story is related info)

  • #2
    Re: Spanish intelligence probing debt "attacks"

    Originally posted by KGW View Post
    http://www.reuters.com/article/idUSL...pe=usDollarRpt

    Spanish intelligence probing debt "attacks"-report




    MADRID, Feb 14 (Reuters) - Spain's intelligence services are investigating the role of investors and media in debt market turbulence over the last few weeks, El Pais reported on Sunday.


    Citing unnamed sources, El Pais said the National Intelligence Centre (CNI) was looking into "speculative attacks" on Spain following the Greek debt crisis.
    "The (CNI's) Economic Intelligence division...is investigating whether investors' attacks and the aggressiveness of some Anglo-Saxon media are driven by market forces and challenges facing the Spanish economy, or whether there is something more behind this campaign," El Pais said.
    Officials at the CNI were not available for comment.
    The report comes days after Public Works Minister Jose Blanco protested "somewhat murky manoeuvres" were behind financial market pressure on Spain.
    "None of what is happening in the world, including the editorials of foreign newspapers, is coincidental or innocent," Blanco said.
    Economists have cast doubt on forecasts that Spain's economy will grow by some 3 percent by 2012, on which the government has based predictions it will cut back on its gaping budget deficit.
    Some economists have said Spain's deficit could be more of a threat than Greece to the euro, the common currency of 16 European countries.
    Spain's deficit has soared to 11.4 percent of its gross domestic product amid its deepest recession in decades, but the government has pledged to cut the gap back to a eurozone limit of 3 percent by 2013 by cutting 50 billion euros in spending.
    Markets doubt that Spain will be able to cut back drastically on spending with unemployment running at 20 percent and a big slice of the budget in the hands of fiercely independent regional governments.
    Underscoring those doubts, the premium demanded by investors for buying Spanish rather than German government bonds ES10YT=RR has risen in recent weeks and the cost of insuring Spanish bonds against default by the government has also risen. (Reporting by Martin Roberts; Editing by Louise Ireland)


    (don's thread on the BullionBulls story is related info)
    As a spaniard I can tell you: our goverment is a bunch of morons. I assume they are playing this "theater" to somehow impress people and win votes. Rather than engaging our intelligence services now, it would have been better to apply the right kind of social and economic politics years ago.

    Comment


    • #3
      Re: Spanish intelligence probing debt "attacks"

      Originally posted by Alvaro Spain View Post
      As a spaniard I can tell you: our goverment is a bunch of morons. I assume they are playing this "theater" to somehow impress people and win votes. Rather than engaging our intelligence services now, it would have been better to apply the right kind of social and economic politics years ago.
      True enough but I wouldn't doubt someone is trying for a killing blow. You get all this money going short .. you've gone to war. And as they say in war, once you're in it .. you're in it.

      That's the problem with short investments. There is an economic incentive to destroy the economic value of the business or in this case country behind the short.

      Comment


      • #4
        Re: Spanish intelligence probing debt "attacks"

        I FIRMLY believe we will see increasing use of economic warfare as a tool used by both state and non state actors much along the lines of information/cyber warfare.

        Both forms of warfare seem to either be ignorant of or accepted by the masses...I'd go more with the former than the latter.

        But at the same time, I can see the ACCUSATION of economic or information warfare as a useful tool as well to misdirect or deflect attention/blame elsewhere.

        Here's how I view the current accusations, counter accusations, and reality:

        http://www.youtube.com/watch?v=TUee1WvtQZU

        Comment


        • #5
          Re: Spanish intelligence probing debt "attacks"

          You don't understand. It's carnaval. Take a look at the chirigotas:

          Code:
          Now, in order to retire
          You need (to work) 2 more years.
          For Zapatero I ask for 12 or 13 more...
          Inside of Alcatraz.

          Comment

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