[PabloBaroja]

Illargi,

This is not the first time I read your worries about this deflationary spiral in Spain causing Spain to disintegrate into independent regions, so I would like to share my opinion on this subject: Transparency international ranks Bilbao, the Basque financial capital, as the most transparent city in the country, yes the Basque country is by far, the most competitive, ethical and stable region of Spain. As such, we receive massive transfers of wealth from the rest of Spain, as Germany is now receiving cash flows from the relatively more corrupt mediterranean region. This situation would halt if Germany would opt to exit the EMU as it would halt if the Basque country would force independence from the rest of the peninsula. As Basques, we love to claim for independence but there is no one here with a bit of brain who would force a change in the status quo, as bad as the economic depression gets.

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