IS SPAIN GOES, WE ALL GO….

"Spain is once again rattling the markets…Just click here to see how often it happens. And the market is right to be concerned. If anything the market is not concerned enough because we think Spain‘s situation is far worse than they’re letting on. The numbers do not add up and analysts are starting to realise it...
And no Spain is not Greece, Spain is too big to fail. The IBEX is in full crash mode, and yet once again, Europe is shooting itself in the foot. We had respite after rumours came around that the ECB would renew its bond buying program but then of course….“ECB’s Knot Says ‘Very Far’ From Resuming Govt Bonds Buying”
The result is that THERE IS NO MORE CORE EUROPE, IT IS ZE GERMANS AND THE OTHERS…The chart below shows how in this latest episode of stress, the market is treating French, Italian and Spanish bond spreads equally….The Italians being the outperformer and we think it is right..."



at http://pragcap.com/is-spain-goes-we-all-go