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Old 21-12-2009, 10:13 AM
advoco advoco is offline
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Everything that's been done in Spain (and the UK and the US for that matter) to combat the crisis has just kicked the central problems - oversupply and overindebtedness - down the line to be resolved another day. Specific actions of subsidising mortgage holders and allowing banks to fudge their bad debts combined with a dramatic loosening of fiscal and monetary policy might have prevented meltdown in 2009 but they also guarantee a further day of reckoning in the future except of course that the next time the government will itself be "maxed out" and unable to save the day.
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