Spanish Flag Flying as Chinese Banks Weigh Up Investment in Spanish Banks

According to Reports from Reuters, the Spanish Government are still confident of Chinese investment into their ailing banking sector.

Spanish Flag Still Flying High at the Bank of Spain in Madrid

Speculation has been rife that Chinese Banks have a staggering $13 Billion to invest into Spanish Banks. $9 Billion of this is said to be from Chinese Investment Corporation alone, this rumour has been denied by the Chinese to date.

Commenting a Spanish Government Official said "This was an error in communication. There is a will to invest in the savings banks and Spanish debt ... but clearly we can't give specific amounts or name particular funds,"


The Spanish Prime Minister, Jose Luis Rodriguez Zapatero  is visiting China and Singapore this week and securing funds for his ailing banks is said to be high on the agenda. For now though, whatever happens the Spanish Flag will continue (it seems) to fly high.

New Caledonia Flag Protest Marches Banned

The tiny oceanic territory of New Caledonia may be small in population (just 245,000) - but is causing a stir politically.

Recent months have seen much tension over the issue of the national flag. New Caledonia is a French Overseas Territory and the French High Commission have banned protest marches for tomorrow (2nd April 2011). The Commission have also banned meetings of more than 10 people, which are organised to discuss the flag issue.

The issue of the national flag has caused the collapse of three governments in the past two months. A group which has been advocating the abolition of the current flag, has planned tomorrows marches many weeks ago. The labour party in New Caledonia were planning a rival pro-flag march. Rival party the Caledonia Together Party are pro-abolition and were to be involved in the anti-flag marches.

Attempts to form a new government are now entering a third month. It seems amazing to think that the national flag is a root cause of these tensions.

The New Caledonia Flag, the cause of much controversy.