Get your money out of Spain/Spanish banks - Spain is insolvent

Ad Majorem.....Wealth Builders

Repost from Newsmax | May 17, 2013

Get your money out of Spain/Spanish banks  -  IMF has declared Spain to be insolvent.  Spain has also figured to have the highest unemployment rate of 27% (or 6 million Spaniards out of job) or nearly equal to that of Greece.

Spain's debt will grow from 84. 1% of GDP last year to 110.6% of GDP  in 2018.  That means a huge amount of debt servicing requirement.  Prudent borrowing limits would just place it at mere 30%.  USA in comparison would be almost the same.  Japan has also borrowed to the hilt at more than l00% of GDP but these are all yen denominated.

Spain and Portugal hopes for a European Union bank that will help them recapitalize their failing banks