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.

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GetZeeGold's picture



Demand? Perhaps they should consider suggestioning?


There's no brown M&Ms in the green room.....I can not tolerate these working conditions!

malikai's picture

Perhaps Catalonia should pay attention to their little village Rasquera's debt solution plan, growing weed:

idea_hamster's picture

Perhaps Madrid should start to consider all those seperatist and independence movements in Catalonia.

"Hmm...unconditional $5B bailout? Or maybe just 'buh-bye'"!

magpie's picture

If you can't even throw Greece out the EZ, how are they going to throw a region out of Spain

Manthong's picture

Do they have any mines to barricade themselves with explosives in?


magpie's picture

Heh, even with a suicide pact the last times they tried to break loose they needed foreign armies to do it for them.

laozi's picture

€ 5M ? Seriously. That's nothing. I will not read any article talking about who is getting a million. Get the fuck out of here!

Stackers's picture

Everytime I read these types of artcls. I keep having flash backs of the Blazing Saddles scene where Cleavon Little is holding a gun to his own head and threatening "Anyone moves and the nigger gets it"

cahadjis's picture

No, 5 billion. The dot is spanish notation for comma. 5023 million euros.


To confuse you more, "billion" in spanish means trillion.

slaughterer's picture

The metastases of bailouts will end all history and negativity for ever.  

caconhma's picture

Thanks to Germany traitors-politicians, Germany will be ruined both economically and politically.

The Reich's picture

is coming over you in the very near future.

idea_hamster's picture

Expelling Greece from the Euro is like kicking an unemployed 20-something out of the parents' basement apartment -- he doesn't want to leave and the parents are conflicted.

Catalonia has a well-developed independence movement that has a 100-year-old body of literature, its own language, and growing public approval.  If Madrid even suggests that it might be OK, the Catalan idependence tide would latch onto this as a "bargain" -- and they'd be right. Catalonia gets independence; Madrid saves a $5B bailout plus all the follow-on bailouts that no one is admitting to yet.

magpie's picture

Well, if that's settled they still have to decide whether to keep the Euro or not

sessinpo's picture

And why would TPTB want to throw Greece out. Greece is like a fish on a hook, a hook so deep down the throat, it can't get off it. Let Greece or anyone else struggle all they want. In fact the more they struggle and borrow more, the more Greece is on the hook. More leverage later on for the central planners.


All these plans to save various countries and regions are really plans to get a stronger hold and control of those finances. That's why we have constant drama back and forth without resolution (until it can't be resolved anymore). It's like the guy that goes to the mob to borrow $10k.  A year later, you find him in debt to the mob for $100k. Eventually the mob comes and takes it all from you, your assets and your life.

ElvisDog's picture

TPTB will keep Greece in the EU as long as they are able to stripmine more wealth, either real or future obligations, from Greece than the money they are putting into Greece. Simple as that. The mafia reference is appropriate, because this is "not personal, just business".

disabledvet's picture

You can simplistically compare this to extortion...or you can stop being an idiot for a moment and understand the "power of the center" under direct attack from the Regions. Big deal...move along sheeple!

drysafe's picture

The thing is, Catalonia (which includes Barcelona) is the most advanced region of Spain economically (arguably more advanced than Madrid, despite what many consider an unfair, center-skewed distribution pattern for federal tax revenues).

If they lose this economic engine, the Basque region (another bright spot on the Spanish map) will probably follow and pretty soon what Madrid is going to be left with to govern will be only the perpetually poor Galicia and Andalusia.

And, politically, this is a non-starter. Spain will sooner descend into a civil war than follow an orderly split like Czechoslovakia.

maxmad's picture

"This is the freakin Catalina Wine Mixer" 

Jason T's picture

give then the "soup nazi" treatment: "you want no conditions?, no bailout for you!  Next!"

malikai's picture

Just fucking pay me. Now.



magpie's picture

You know the drill, rant around, Merkel in SS uniform, then line up at the ECB after a Draghi 'all clear'.

GS-DickinDaMuppets's picture

WTF - When will this Sh!t finally end,


...doing GOD's work...GS-DickinDaMuppets

Neethgie's picture

catalonia is a socialist hell hole, who have spent all their money now expect more..

SilverNoob's picture

Exactly. Give us 5 billion or else. No conditions, blow jobs or reach arounds. 

Catalan chutzpah. Paella munching mofos.

FeralSerf's picture

"Hell hole" is a mischaracterization of Barcelona.  

Chief_Illiniwek's picture

Until they hold their breath, these demands cannot be taken seriously.

GetZeeGold's picture



Don't push it little mister....cause they'll totally do it!!!


Anasteus's picture

The original article refers to 5 million, not 5 billion as titled. 5 million is nothing, it's not worth mentioning.

Racer's picture

Can I have some 'nothing' please

Anasteus's picture

No, no, the title is ok, it's actually 5 billion. The google translator confuses comma/dot delimiter.

laozi's picture

Oh. I reacted to that too. 5M would not even pay for ONE of Berlusconis bunga bunga parties.

Non Passaran's picture

Okay you moron, go to Wikipedia or somewhere and learn about decimal points in continental Europe.

Anasteus's picture

I am directly from Europe...

GetZeeGold's picture



No kidding? Can I have some of your free money?


laozi's picture

Stop right there Sir. You have to wait for QE3 like all the rest.

cahadjis's picture

Shame you not knowing that 5.023 is same as 5023 in european notation. Confusing i know but it's how it is.


In today's "brother can you spare a bailout" world, 5 billion isn't nothing either.

Ar-Pharazôn's picture

ehmmmmm perhaps you should consider to go back to school............... reading lessons especially

SilverNoob's picture

No Senor, no.


The original article mentions 

"5.023 millones de euros"

The Spanish don't seem to use commas to denote thousands, but use the decimal, which is rather confusing.

That's 5.023 billion Euros. What do you think they would do with 5 million euros? 

orangegeek's picture

And the Euro is up again this morning. 


Insolvent countries - more bullish news.

JJSF's picture

The core and peripheral are completely seperating

Countries like Czech Republic and Poland's currencies are getting hit when the euro gets hit.. But their economies are much healthier.. Buyying these currencies has been my thing for about 3 weeks now..

Non Passaran's picture

Hmmm couldn't you make the same argument about CHF?
What are they going to do when the rest crashes? Export their way out?
(I'm lazy to check but I wouldn't be surprised of their CB's had some sort of peg to the Euro).

Ar-Pharazôn's picture

CHF is pegged to the Euro at current rate of 1 Euro = min. 1.20 CHF

Ar-Pharazôn's picture

as a swiss citizien i would say that if EU implodes, we will experience our baddest times since WWII