Spanish Prime Minister Rejects Bailout Conditions

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”

Spanish Prime Minister Mariano Rajoy has stated that he will not accept any outside conditions on bailout funds that could potentially save his nation’s economy.

“I am absolutely convinced that everyone will be reasonable but I insist that we haven’t taken a decision,” Rajoy said during a national television address. “I will look at the conditions. I would not like, and I could not accept, being told which were the concrete policies where we had to cut.”

European Central Bank president Mario Draghi has proposed a plan that would allow the ECB to potentially buy unlimited amounts of bonds from debt-riddled Eurozone member nations.

One of the requirements of the bond purchases is that the nations participate in European Stability Mechanism programs. The countries would have to request a formal bailout before any actions could be taken by the ECB.

 

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