Friday, October 5, 2012

Spainish Finance Minister’s ‘No Bailout’ Remark Sparks Laughter at LSE

You can't fool the students at the London School of Economics.

Spanish finance minister Luis de Guindos took to the stage at the London School of Economics and told students and economics professors,“Spain doesn’t need a bailout at all."

The room burst into laughter.

Unemployment in Spain is near 25%, and businesses, large and small, are leaving the country, causing government tax revenue to contract.

It is only a matter of time before de Guindos makes the call to European Central Bank president Mario Draghi for bailout money.

File under: Nothing is confirmed until officially denied.


  1. If Spanish finance minister Luis de Guindos were an Austrian Economist, then I would agree. Spain needs to default and write off their debt. They most certiantly do not need a bailout. I know he's not an Austrian, and neither are the students at the London School of Economics, so I find this double funny.

  2. "You can't fool the students at the London School of Economics."

    Bahahaha. I suspect the LSE's Keynesian professors would disagree with your generous assessment. The students may recognize a statement like the one highlighted in your post as BS, and laugh at it; but the real joke is that they will continue to swallow the Keynesian nonsense being peddled as truth by their LSE economic professors as to the reasons for economic calamity in the first place, and the supposed'solutions'for it now.

    Now, if you had said "You can't fool the students at Mises Institute", I'd have no quarrel with that statement.

  3. Amazing
    Goldman sachs stated on bloomberg tv early this morn Spain would ask for a bailout in October... reminds me of Argentina peso devaulation denial days before they devalued.
    Guess they use the same playbook.

  4. One would have to be the most stupid person on Earth to actually "work for a living" in Spain. The spanish people - especially the young - no longer want to be slaves to the thieving government psychopaths like the parasite Luis and the terrorists in Brussels.