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‘Spain is RUINED FOR 50 YEARS’ Economist predicts crisis and slams ECB over ‘crazy’ loans
A LEADING Spanish economist has hit out at the European Central Bank (ECB) saying "crazy" loans will ruin the lives of the population for the next 50 years.
And it is only a matter of time before the Government is forced to default as a debt bubble and low wages effectively forge the worst declines in "living memory".
Leading economist Roberto Centeno, who was an advisor to US president Donald Trump's election team on hispanic issues, says the country has borrowed £508 billion (€603) billion that it cannot conceivably pay back.
And he says Spanish politicians including Minister of Economy Luis de Guindos are "insulting their intelligence" after doing back door deals with the ECB.
"Before you embark on a Journey of Revenge, Dig Two Graves" Confucius (504 bc)
“The darkest places in hell are reserved for those who maintain their neutrality in times of moral crisis.”
"If angry, count to ten. This will give you time to find a weapon." - Will Spencer