Dear Mr. de Guindos, I don't think you have convinced the international press

Sometimes a picture is worth a thousand words, so we will keep this post short.  Today, Spain finally reversed course and announced what everybody knew was going to happen all along -- that Spain would be needing an economic lifeline, if it is to survive.  However, Spanish Minister of the Economy Luis de Guindos, in typical Spanish political Orwellian fashion, engaged in double speak when the announcement was made this afternoon.

Mr. de Guindos actually managed to keep a straight face when he announced the EU "aid" package by saying, "Se pide apoyo financiero, esto no tiene absolutamente nada que ver con un rescate."

("Financial support has been requested, this in absolutely no way is a bailout.")


The international press didn't buy it Mr. Guindos, does the Spanish government really think its citizens are that stupid?

Espanol: ayuda
English: help, assistance, aid

Espanol: rescate
English: bailout, rescue