Spainís Prime Minister Accused Of Receiving Illegal Cash Payments As Corruption Scandal Widens
By Agustino Fontevecchia | Forbes.com
A corruption scandal blew up in Spanish Prime Minister Mariano Rajoyís face over the past few days, sending the stock market down in a crash as bond yields surged dramatically. As opposition leaders call for his head, Rajoy rejected accusations that he and other top members of the Popular Party (PP) received illegal cash payments, promising to post his tax returns online so that ďtruth may prevail.Ē It appears unlikely that the so-called Gurtel Scandal will force Rajoy out, but the return of political rumblings have unsettled markets after months of relative calm, raising fears that the European sovereign debt crisis might flare up once again.
ďNever, and I repeat, never have I received, nor distributed black money,Ē Rajoy said last Saturday, responding to accusations that he had formed part of a corruption ring that received money from a construction company in exchange for public contracts.
The scandal, uncovered by Spanish daily El Pais over the past few days, bulldozed market confidence in Madrid, sending the stock market down nearly 4% on Monday. After months of continued improvement, Spanish bond markets deteriorated as well, with the yield on 10-years jumping dramatically to 5.44%, hitting its highest levels since mid-December.
Mariano Rajoy with Germanyís Angela Merkel at a press conference in Berlin on Monday
Rajoy referenced the case again Monday in Berlin, where he was meeting German Chancellor Angela Merkel, saying ďeverything that refers to me [Ö] is totally and absolutely false.Ē The Prime Minister has found himself tied to a corruption scandal that involves the PPís former national treasurer, Luis Barcenas, who has reportedly stashed Ä22 million ($30 million) in a Swiss bank.
Read the full article at: forbes.com
Spain Now Faces a Systemic, Societal, and Sovereign Collapse
Red Cross makes Spain appeal as economic crisis bites
Eurozone crisis: Spain inching closer to a meltdown
Anti-austerity clashes in Spain (Photos)
Storm looming in eurozone as Spain economy falters
IMF Head and Sarkozy embroiled in new corruption inquiry
Barclays rate rigging crisis shows ícorruption at heart of bankingí
Latest News from our Front Page
Professor: Reason Itself Is A White Male Construct
A philosophy and religion professor at Syracuse University gave an interview to The New York Times Thursday in which he critiqued the notion of pure reason as simply being a “white male Euro-Christian construction.”
Prof. John Caputo was being interviewed by fellow philosophy professor George Yancy for the 13th installment of an interview series Yancy conducts with philosophers regarding racial topics.
Given its emphasis on first principles ...
The Broken Window Fallacy
Youtube description: This short video explains one of the most persistent economic fallacies of our day.
Jenji Kohan and the Jewish Hyper-Sexualization of Western Culture
As detailed in The Culture of Critique, Freud and his followers regarded anti-Semitism was a universal pathology which had its roots in sexual repression. The theoretical basis for this can be found in Freud’s Three Essays on the Theory of Sexuality where he linked aggression to the frustration of human drives — especially the sex drive. Kevin MacDonald notes that: ...
Confederate History - Dispelling the Myths
History books, the media, the school systems, etc abound in falsehoods and inaccuracies of Confederate and Southern history. This fact sheet will help to clarify and dispell some of these rampant inaccuracies.
MYTH - The War of 1861 - 1865 was fought over slavery.
FACT - Terribly untrue. The North fought the war over money. Plain ...
Gays Rights May Open Door for Pedophile Rights
Democrats have attempted to normalize pedophilia as a sexual orientation.
A recent Supreme Court ruling on same-sex marriage may soon allow pedophiles to argue they are suffering discrimination.
‚ÄúUsing the same tactics used by ‚Äėgay‚Äô rights activists, pedophiles have begun to seek similar status arguing their desire for children is a sexual orientation no different than heterosexual or homosexuals,‚ÄĚ writes Jack Minor ...
|More News » |