{"id":16231,"date":"2012-06-29T08:42:21","date_gmt":"2012-06-29T07:42:21","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=16231"},"modified":"2012-06-29T08:42:21","modified_gmt":"2012-06-29T07:42:21","slug":"the-european-banking-cancer-cut-it-out","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/06\/29\/the-european-banking-cancer-cut-it-out\/","title":{"rendered":"The European banking cancer: cut it out"},"content":{"rendered":"<p>I argued recently that if the banking crisis in Europe was to be solved then direct invstemnt in banks had to be allowed.<\/p>\n<p>Last night the Germans agreed and<a href=\"http:\/\/www.ft.com\/cms\/s\/0\/5513d3d4-c19f-11e1-8eca-00144feabdc0.html#ixzz1zALJp9qi\" target=\"_blank\"> as a result the FT comments:<\/a><\/p>\n<blockquote><p>Eurozone leaders agreed to radically restructure Spain\u2019s \u00e2\u201a\u00ac100bn bank recapitalisation plan,\u00a0<a title=\"Summit statement - June 29 2012\" href=\"http:\/\/www.consilium.europa.eu\/uedocs\/cms_Data\/docs\/pressdata\/en\/ec\/131359.pdf\">allowing EU bailout funds to eventually be injected directly into teetering Spanish financial institutions<\/a>, meaning Madrid can sweep the burden of the bailouts off its sovereign books.<\/p><\/blockquote>\n<p>Now its time to do the same for Ireland and Portugal.<\/p>\n<p>And in each case the banks have to be nationalised. Not if, or but, but entirely. The cancer in banking cannot be reformed without such\u00a0change.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I argued recently that if the banking crisis in Europe was to be solved then direct invstemnt in banks had to be allowed. Last night<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/06\/29\/the-european-banking-cancer-cut-it-out\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70],"tags":[],"class_list":["post-16231","post","type-post","status-publish","format-standard","hentry","category-banking"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/16231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=16231"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/16231\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=16231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=16231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=16231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}