Spanish bonds

The Spanish government has been raising dosh today on the money markets by offering 6% on 10 year bonds. This is the action of a government who for the sake of the European economy cannot say that it needs a bailout what with the mini run on its banks only a week or so ago. So instead of the European central banks stumping up some cash at a reasonable rate – says 0.5 % - which our the BOE has set for the UK, the Spanish go to the parasites of the money markets who see the current financial turmoil as a time to make money. Perhaps it is the high street banks that are going to be buying then selling these bonds and their fund managers will be getting whopping bonuses at Christmas – assuming chrimbo will still exist. It is like a vulture trying to eat its own feet.