June 8, 2012
Tags: bailout, banking crisis, Spain
Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”
-Jim Bakker in “Prosperity and the Coming Apocalypse”
Despite Spain’s insistence that a bailout was not imminent, a Dutch official leaked out word that emergency bailout talks could take out place this weekend.
Dutch finance minister Jan Kees de Jager told the BBC the situation in Spain was “urgent” and alluded to emergency talks. EU officials have officially stated that Spain would not be asking for emergency funds as early as Saturday.
Spain’s government has been claiming they would do nothing until audits of the country’s banks finished in the next few weeks.
Reuters news agency is also reporting that German officials are talking about a bailout for Spain this weekend. The officials are quoted as saying the Spanish government is now realizing the seriousness of their problems.
Spain would be the largest bailout in the EU. Strict economic conditions would come with the bailout like the ones given to Greece, Ireland and Portugal. The first report on Spain’s banking system comes Monday from the International Monitary Fund.