Quote Originally Posted by Kralizec View Post
You do have a knack for selectively picking things that support your argument, don't you?

Debt rates are high for the simple reason that nobody wants to buy those bonds. Germany's finances are good but not that good; the near-zero rates they get now are because everybody piles on eachother to buy that paper and thus create a self-reinforcing prophesy. Spain and Italy are in trouble, but because nobody buys their bonds it paints a bleaker picture than is actually justified.

German and French banks hold massive stakes in Spanish debt. Erasing that debt means letting Spain off the hook at the expense of France and Germany. Is that difficult to comprehend?

The banking union sounds like a good idea that's long overdue.
Spain's bond yields are over 7% right now - I suggest you boys find a new solution, because the medicine you're using isn't killing the patient so much as putrifying his corpse right now.