oh dear... another gem by Uri Geller...
lets see if i can explain it in simple words. i'll go 7th grader aproach for.
The fourth bank holding more debt as shown by the chart is Santander, a Spanish bank that holds a significant part of it's operatios in Portugal (as well as other countries too might i add), so it would not be very hard to understand that most of the PT debt held by the said bank was indeed a buy-inn from PT originated capitals coming from of private assets deposited in Santander PT. This being one of the main dificulties of the PT debt solution - the buy-inn
I have a working memory, so your attempt at confusing the issue is not working.
ViscaB mentioned that if Portugal hadn’t been bailed out, the Spanish economic crisis
would have been even worse than it already is.
You react in typical fashion, referring to his comment as
“ignorance beyond human explanation,” whatever that may mean.
Then ViscaB patiently explained to you again what he had said:
Posted by ViscaB:
I said "even more trouble" which implies they would be in trouble regardless. But even more if Portugal would fall as Spain holds a lot of Portuguese debt...
You reply with a "Educate yourself!!!" sending a chart (which you must have not looked at carefully) that shows Spanish banks in fact holding more Portuguese public debt than the banks of any other country except Portugal itself. And then you add, again in your typical young rooster style:
Posted by Gorecki:
you talk out of your arse, absolutely ignorant about facts, regarding a country you probably never even visted and yet i'm the thick one?
When I point out that your "Educate Yourself' chart simply confirms what ViscaB was saying, you put out a few diversionary sentences, described by you as a “7th grader approach,” that do exactly nothing to dispel the claim that Spanish banks do in fact hold a lot of Portuguese debt, and that the Spanish economy is significantly tied to Portugal’s, and that therefore Portugal's economic fate would have a direct effect on the Spanish economy -- which is all that ViscaB was saying, and something that everyone, including your "7th grader," would easily understand.
All of which confirms my long held suspicion that the reason you don't participate in discussions, other than to throw in insults and snide remarks, is that you can't put a simple argument together.
http://www.guardian.co.uk/world/2011/apr/07/spain-bailout
Some 8.5% of Spain's exports are sent across its western border, meaning that Portuguese austerity measures and an expected return to recession will be also be felt there.
[...]
Spanish store fronts, jostling for space along a single block in Lisbon's João II street,
are a sign of just how deeply Spain – which accounts for a third of all Portuguese debt held in foreign banks – is linked to its neighbour.