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THE COST of borrowing for the Spanish government has continue to rise today, further underlining the short-lived welcome given by investors and money markets to its €100 billion banking bailout.
10-year bonds were this afternoon being traded for 6.767 per cent – that is, Spain would have to pay 6.664 per cent interest each year for ten years, and then repay the full amount of the loan at the end of that period.
By comparison, the country would have been able to borrow for a pinch over 6 per cent yesterday morning, as investors had their first opportunity to pass a verdict on the bank deal agreed by ministers last Saturday.
Similarly, Italy has seen its costs spike, rising from 5.77 per cent yesterday at Friday’s close to just under 6.25 per cent at the time of publication.
Investors charge higher interest rates when they fear that the country may not be able to repay the full amount at the end of the loan – and instead charge penal interest rates to ensure that they recoup as much of their cash as possible.
The increased costs come as IMF head Christine Lagarde warned that the eurozone was ‘running out of time’ to solve its problems, appearing to agree with other predictions that action was needed within three months or the euro would collapse and disappear.
Der Spiegel quotes an interview with CNN, broadcast last night, in which the Frenchwoman seemed to back the evaluation of George Soros – and said action to save the currency was needed “more shortly (sic) than three months”.
Refusing to directly answer questions about whether Greece might leave the currency, Lagarde said the matter was “a question of political determination and drive”.
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Good on him
Seems cheap for a billboard. Good on him.
He should apply to Tv3. “I take other peoples original ideas and make a low budget version of it and claim it as my own!”
Fantastic!
Yeah I could really do with a job
haha Pause his video at 12 seconds in… ” Davina McCall : Please Stop Emailing ” … Persistent Lad!
Enterprising. He stands out from the crowd and he is using the medium that he wants to work in to best effect. PLease God he’ll have plenty of offers.
Fintan, if he gets a job then will that be because of his initiative or god?
Haha!! Why do people mention god!!!
Good idea but “im desperate for a job” ” i only want to work in media” is endemic of the problem we seem to have with people getting jobs, people only want to work in certain, usually fashionable industries.
I have no idea why you’re getting so many red thumbs. I love this misguided idea that you’re entitled to your dream job in your locality/country.
I study media because I want to direct and produce documentaries about issues of concern. The Irish Abortion debate, how the government retains power through political apathy and the manufacture of consent, feminism in the 21st century. I want to give a voice to the voiceless. I’ve already directed a documentary about cystic fibrosis. I have always been interested in documentary production. I’m not studying media because its ‘fashionable’. I couldn’t give a shit about fame or presenting. It’s hard to get into and competitive as hell but if I don’t go for it I definitely won’t make it. Some people have something called passion. If we were all employed in jobs we hated, then we wouldn’t really be living would we?! We’d just be slaves to the wage in jobs we hate.
Lisa I accept that, but this man is so desperate to get a job he spent his last 500 on a billboard , hes not one to be picking and choosing , looking for jobs in the media is just fine but considering the “recession” this man doesnt seem as desperate considering he started his ad with “if you work in keep watching”
Hey Lisa,
Best of luck with your career. At the same time I’m sure you accept the fact that the odds are very heavily stacked against people making a career in media in Ireland these days. If none are forthcoming when you graduate then you will probably have to settle for something else to tide you over. This is the reality of life….very few people end up doing what their dream job was as a teenager.
I have quite a few friends who tried to make careers for themselves in music and sport and it didn’t work out for them. In the end they settled for what they could get. I’m afraid that’s life in the middle of recession Ireland. You and your peers are going to have to accept that.
Degree in media studies….
I dated this lad. Mort
Cassie. I heard his next campaign is to billboard pictures of his exes.
Now that shows initiative! Good on him.
Pause the video at 12 seconds , he applied to babestation to be an on screen model???
Planted for viral hope I think
Guy in my work stood outside the Bank of England at lunchtime with sandwich boards handing out flyers that were kind of like a condensed version of his CV. He’s a smart guy anyway but managed to get a job on a graduate scheme for a large UK bank.
Check your header, is his name Alan or Adam… Obviously the billboard had an impact on you!
Well done, the error was corrected. I love the Orwellian way in which the journal corrects historically, with no mention if the error, Winston Smith would be proud! ;)
Original, informative & funny…
I would suspect that he’s already reemployed.
Brilliant
How is it original? And Irish guy did the exact same thing last year.
Fantastic . Fair play to him.
he is a total nerd. and probably unemployable.
Fair play to him, genuinely looking for work unlike some other sad sacks.
Brilliant idea…perfect for getting a job in media but I would wonder how effective it would be if a nurse or primary teacher took a billboard? Wonder how the HSE or Department of Education would react??!!;)
Waster,500 quid down the gary glitter,imagine him looking after your budget
Maybe he could take a sweeping brush with him to the site tomorrow and show how good he is with it. The place is nearly as dirty as Dublin.
His last 500 on the billboard? So the website hosting, design and domain name registration career first…..
Peep show: http://youtu.be/RMzJ9nXSR50
As a media student I fear a similar faith…. My dreams of documentary production are slowly being replaced by a fear that I’ll end up as the runner on some shitty talk show, making coffees and shouting “quiet on set”. Ugh.
have your say