Spain’s Prime Minister Accused Of Receiving Illegal Cash Payments As Corruption Scandal Widens
2013 02 07
By Agustino Fontevecchia | Forbes.com
A corruption scandal blew up in Spanish Prime Minister Mariano Rajoy’s 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 “truth may prevail.” 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.
“Never, and I repeat, never have I received, nor distributed black money,” 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 Germany’s 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 “everything that refers to me […] is totally and absolutely false.” The Prime Minister has found himself tied to a corruption scandal that involves the PP’s former national treasurer, Luis Barcenas, who has reportedly stashed €22 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 ’corruption at heart of banking’
Latest News from our Front Page
Exponential growth of Ashkenazi Jews following a Medieval population bottleneck
2014 09 17
A recent paper by Marta Costa et al. found that around 80% of Ashkenazi mitochondrial DNA had a prehistoric European origin (and ruled out the Khazar hypothesis). Combined with previous Y chromosome studies indicating that the male line is Middle Eastern, the results suggested a scenario in which Jewish males married European females after traveling to Europe.
Now another paper, ...
Bankers Rule: City of London vs. Scottish Independence
2014 09 17
Now that the independence referendum is too close to call, the bankers express their worry. The media blitz ramps up to tip the outcome. Scottish independence has finally rattled the City of London has the usual banksters forecasting the dislocations from a currency panic.
Scotland has a long and noteworthy history of banking. Money, savings and investing is entrenched in the ...
French separatists want Scots to say "yes"
2014 09 17
Separatist leaders in Brittany, Corsica and the French Basque Country will watch with interest as Scotland votes on independence next week, but they don’t expect France to follow the UK’s lead any time soon.
Pro-independence activists point to the fact they have their own languages and cultural identities. France, however, remains a deeply centralized country and any talk of a negotiated ...
Devil’s Deal: US-Backed Syrian Rebels Already Signed Pact with ISIS Prior to Haines Beheading
2014 09 17
While Washington considers appropriating half a billion in funds to the Syrian rebels, we now learn that opposition groups the Free Syrian Army (FSA) and al Qaeda affiliate ‘al Nusra Front’, have officially aligned themselves with ISIS…
Despite grand words by US President Obama and British PM David Cameron, here’s what’s really behind their plan to bomb ISIS in Syria…
In a ...
World War III for Dummies
2014 09 16
A Step-by-Step Guide to Understanding the Present World Situation.
1998 - 2000
Powerful elites and influential think tanks forecast a coming period of American aggression. Zbigniew Brzezinski speaks for the Globalist faction of the western PRC (Predatory Ruling Class) in ’The Grand Chessboard’, a book in which he openly advocates for bolder American action in dominating the Eurasian land mass.
During this ...
|More News » |