On Friday, Artur Mas issued a desperate cry for help to international correspondents, because Catalonia doesn?t have enough money to pay its bills at the end of this month, sent the Spanish risk premium back above 500 basis points.
After watching the fallout from his statements, the president of the Catalonian government, known as the Generalitat, qualified what he said, but the damage was done. Mas asked for hispanobonds in the wrong place and in front of the wrong people.
Spain?s situation is extremely delicate right now, and it?s necessary that political leaders are aware of the scope their messages have, for good and for ill. It?s no good to blame the messenger for taking statements out of context. Leaders must measure their words when the speak.
