Writes Paul De Grauwe: “It is difficult to understand … why the market (and the rating agencies) forecast a default of the Spanish government debt, while they do not forecast trouble for the UK, which has a debt build up similar to Spain’s and a more serious banking problem.” Via Arthur Goldhammer, whose “‘racial’ component to the bias (blond bonds carry lower risk premia)” is actually I suspect a rational reaction to the don’t ask, don’t tell relationship from which Spain’s banks believe they are benefiting at the moment (someone forgot to tell Miguel Sebastián). The UK is apparently global no 1 for budget transparency at the OBI), while I’m told some in Brussels have ceased to regard Spain as a functioning state. British banks have effectively become nationalised entities in a fairly public process, while the Spanish sector’s problems are still the stuff of speculation. And while British local authorities are in deep shite, none of seem to think the most logical way out of it is to finance new Alitalias, which has been the Catalan public authorities’ major response so far.
(Are the Irish blond? The ones accumulating debt generally are, so maybe Arthur’s thinking of Galway.)
- .cat abuse
puntCAT’s application for the sponsored top level domain .cat clearly states that its purpose is to serve the Catalan linguistic and
- Columbus was Irish
Following up yesterday’s Galway post, and anticipating yet more “Columbus was Catalan/lesbian/a figure of speech” lunacy on Hispanidad Day tomorrow, here’s
- Traitors to the language
Everyone always knew that the previous, “moderate”, nationalist government was engaged in a campaign to remove, step-by-step, Spanish and its users
- Cervantes, prototype for el Cobrador del Frac?
Peter Harvey is suffering from that perennial Spanish problem–translation agencies that don’t pay the modest rates they promise. This blog enjoys
- 8 reasons why the Moroccan octopus industry hasn't got a leg to stand on, as it were
The elderly Galician in the seafood bar down the street is essentially a demand side economist. Octopus? No problem. Customers? Never