Spain Begs Former Colonies For Bailout

Tyler Durden's picture

Irony of ironies. While the world awaits the Spanish request for 'help' from its friends in Europe (which the market 'hopes' will escalate to EUR740bn very rapidly), it seems the King of Spain and his trusty Prime Minister have another cunning 'inverse-conquistador' plan. AP reports that "Spain receives Latin American investment with open arms," as Rajoy asks the former LatAm colonies to help. Falling back on the assured quid pro quo, Rajoy said Spain had invested heavily in Latin America during its crisis 10 years ago... so fair's fair right? Now that the roles were reversed, he called upon those nations to increase their participation in his struggling empire's economy. The perfect irony is complete as the Iberoamerican Summit at which he was begging speaking was held in Cadiz - the country's main gateway for importing Aztec and Inca treasure!


Via AP:

CADIZ, Spain (AP) — Spain's prime minister on Saturday joined its king in asking former Latin American colonies to help the EU nation overcome a deep financial crisis by channeling investments its way.


Prime Minister Mariano Rajoy said Spain had invested heavily in Latin America when it suffered a crisis 10 years ago, and now that the roles were reversed, he called upon those nations to increase their participation in his country's economy.


"Spain receives Latin American investment with open arms," he said.


Rajoy was speaking at the Iberoamerican summit being held in Spain's southwestern port of Cadiz, once the country's gateway for importing Aztec and Inca treasure.


King Juan Carlos made the same plea Friday, saying "our eyes turn to you, we need more Latin America."


He added that Spain had "seen difficult situations emerge caused by the financial and economic crisis."



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magpie's picture

Dead souls might have more apt lyrics

magpie's picture

The spirit of fiats past ?

Never knew what to make of GEAB, on ZH their view is somewhat consensus. Other than that, their predictions of going out with a bang end up with a whimper, and vice-versa.

Atomizer's picture

Read between the tea leaves, beyond that.. roll the dice!

BTW.. Autosuggestion is my favorite song from that band.

kito's picture

delicious irony.........the c+cksucking spainards raped pillaged exploited christianized surpressed and demoralized south america for centuries and they have the sheer temerity to come begging.....too much.........

Skateboarder's picture

"Honor" has already seen the antiques pile and is now on its way to the dump.

Bicycle Repairman's picture

Florida used to be a Spanish colony.  So when is the Bernank kicking in?

magpie's picture

For some reason, they also overlooked soliciting funds from their African and Asian ex-colonies

Yen Cross's picture

 Instead of Spain appealing to it's now nationalized foreign "cash cow" overlords, it should just close the books on about 1/3 of it's national debt. FORWARD> Spain

  I wonder if EBS has a new template for drachma/peseta? 

Joke Heros's picture

Columbus and his ilk, in the name of God and for the benefit of King Ferdinand and Isabela, used to cut off the hands of Taino Indians who didn't gather enough gold for the day.

If Spain wants to return to looting the resources of the Western Hemisphere again they need to start sending over the severed hands of bankers and politicians in exchange for trinkets and beads because that is all they are worth.



gould's fisker's picture

Alot of nice history on these posts.  Here's some alternative history--people used to invest in international markets on the basis of making a PROFITS, not as a response to some pathetic requests of irrelvant anachronistic monarchs or in hopes of a infusion of central bank cash.  I know it's a quaint observation, but since we're listing historical circumstances . . .

Yen Cross's picture

 All the karl Rove jokes?

You guys push hard enough, and Karl might go Dick Cheney( four transplants and a Nixon administration ago) on you!?

nmewn's picture

Monarchs, what're gonna do with them?

Now you wanna talk about welfare queens...monarchs (and their families) are fucking parasites.

Perdogg's picture

I wonder when someone is going to write the financial equivalent  of "On The Beach"

Captain Willard's picture

You have to love the Spaniards. They invest money borrowed from Germans into Latin America and into their own RE bubble. The bubble breaks. The Germans want their money back. So naturally Peruvians and Chileans should pay!

Tell King Juan Carlos that he can abdicate and put the last Inca on the throne of Spain. What an asshole!

At least apologize for 300+ years of murder and exploitation before asking for a bailout. We call it "chutzpah" in New York. I think it's "cuajo" in Lima.

Atomizer's picture

Did you mean they must login to apologize and receive more money? A captcha must be in order.

GDP = C + I + G + (x-i)  BAilMeOuTFuCknUts

Yen Cross's picture

 Welcome to the , Fed "stigmata"".

dunce's picture

Spainish enterprises invested in latin america because they saw fast growing markets and future profits, the reverse is not true. Economic reality intrudes on fantasy again.

jonjon831983's picture

Ya, maybe if the king goes to each of its colonies on a Safari they`ll be willing to open up their wallets.  The people will be amused by his antics like last time.