Spain's Catalonia Region Demands €5 Billion Bailout, Will Not Tolerate Conditions

Tyler Durden's picture

Beggars can once again be choosers. In other news, non-news (the Catalan bailout was announced at least two times before) is news again, and magically drives the amnesiac market all over again.

From Cinco Dias, courtesy of the always amusing google translate, which makes any news, no matter how tragic, quite hilarious without fail:

Catalonia 5,023,000 calls but will not accept the State Policies

 

The Catalan government today applied to join the Spanish Government Autonomous Liquidity Fund, which will borrow EUR 5.023 million, but has warned he will not accept "political conditions" to provide some resources "that are of the Catalans".

 

The Catalan government spokesman Francesc Homs, has stated that the Government will use these resources - the fund is endowed with 18,000 million euros to meet the budget deficit that is required (1.5% of GDP by end 2012 ) and to refinance "maturities outstanding" between now and year end.

 

The Catalan government has finalized this application to join the Liquidity Fund at its first meeting after the summer break.  

Needless to say, Germans, who are ultimately indirectly paying for this unconditional party, are delighted.