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The money for the bail out will come from german taxpayers. The spanish government learned at  last, at the beginning of 2012- the truth. That centre european economy (Banks,  factories) is a dead man walking. That it has survived draining the blood of the  poorer but healthier economies of the periphery (I mean the UK, Spain, Ireland, The  Baltics). That mean that most of balance sheets in Germany and France, and the  north of Italy, are commercial credits against the euro-area. If Spain defaults  the entire centre european economy will collapse. From the very day Mr Mariano  Rajoy knew that, all the empty talk of Ms Merkel about austerity was doomed. The  problem now is how can you make it without german taxpayers to realize that their  politicians have been lying since 2000, or even before. And I think: there is no way. So they blame us (And it is easy). You can find a 2004 article at ‘The Economist’ about “Europe after Aznar”. You  can see at the EU commision webpage the shameful record of the proceeds for  excesive deficit agains France and Germany, and how they died when Spain changed sides in 2004 with the new socialist government. You can read about how Basel III banking rules were adopted in   2003- to favour investments in public debt and mortgages of AAA rated creditors.  The information about how the USA and centre Europe are screwing the world to  save some of its banks and big corporations at the expenses of its own taxpayers and of  other countries is there, for anyone able to read.

Of course we need a bail-out.And Germany needs a bail-out from the 1990s, not to mention  Italy or France. With many, many conditions.

We (Spain) have to dismantle and  rebuild the public sector. The industrial and banking lobby of centre europe has  to close and be rebuild (I must stress .- Its not “Germans must pay for their  sins”. Its “the industrial lobby, no matter wich country, and the banks that  have financed it, must pay for their sins”). The EU Commission has to recover  its role as treaties keeper. Right now it endorses a mad “new industrial policiy” designed for crazy politicians and equally insane industrials.

Neither the Euro, nor the Gold Standard is the rope that has tied us  together. We were already tied. We have been since the industrial revolution. But  we have failed in taking the right steps. From 1872 to today, our political institutions based on  XIX century nationalism have boost suicide policies that have ended in two world  wars. And since 2003, when the EU equilibrium was broken with Aznar´s departure, we are back in the  track that has carried Europe from the world leading power in the XIX century to  our current near-irrelevance. This new suicidal round, if completed, will let us  in a third-world-status. And the EU experiment, the best thing that has happen  to us in a century, was forced by the USA in a cold-war-environment. Pityful. Am  I making myself clear? I guess not. We (Europe) need an industrial and  institutional reform to adapt to a future shared with China, India, Brasil… We have to open borders to immigration, to  trade, to less political intervention, we need a more independent Justice… and Nationalism  and protectionism disguised as “welfare state protection” are in the way, and  are leading us straight to hell. Neither the Gold Standard. Nor the Euro. Our  anti-democratic institutions. Our nationalist Politics. Our History has been  defeating our destiny for 100 years and is going to kill us all, if we let it  happen again.

Read more: http://www.businessinsider.com/spains-desperate-economic-situation-2012-10?op=1#ixzz28j2NNMmk