Welcome, Guest. Please login or register.
Did you miss your activation email?
April 30, 2017, 01:57:55 pm
HomePredMockPollEVCalcAFEWIKIHelpLogin Register
News: Cast your Ballot in the 2016 Mock Election

+  Atlas Forum
|-+  General Politics
| |-+  International General Discussion (Moderators: afleitch, Hash, Eternal Sun Of Atlas)
| | |-+  Polish MP demands Spain pays back 16th century debt
« previous next »
Pages: [1] Print
Author Topic: Polish MP demands Spain pays back 16th century debt  (Read 513 times)
Tender Branson
Mark Warner 08
YaBB God
Posts: 42429

Political Matrix
E: -7.10, S: -6.09

View Profile
« on: August 04, 2012, 12:05:36 am »

As if Spain didn't have enough debt woes, now a Polish legislator is calling in a 235m zloty (£45.5m) debt dating back to the 16th century.

At issue is a 430,000 gold ducat loan taken by King Philip II of Spain (1527-98) from Poland's Italian-born Queen Bona Sforza (1494-1557) to finance the war between Spain and France for control of the Kingdom of Naples, most of which has never been paid off.

Marek Poznanski, a 28-year-old member of parliament with the renegade left Palikot Movement parliamentary caucus, has launched a request for repayment, which Poland's foreign ministry is currently examining.

"I'm well aware my request might seem odd, but I'd like it to make politicians really think about the consequences of lending money to other countries," Mr Poznanski said on his Facebook page about his unusual initiative.

According to him, during the period in question one gold ducat weighed 3.5 grammes. Using current gold prices, the value of the debt would amount to €57.4m euros (£45.5m), this not including 400 years' worth of interest.

Poland worked for centuries to recover the debt but by the 18th century it had managed to claw back just 10pc of the total sum, AFP reported.

Some historians even believe that Queen Bona, who died in exile in Bari, Italy, was poisoned on King Philip II's orders so he could wiggle his way out of repaying the money.

In archaic Polish, the term "Neapolitan sums" was used to describe bad debts.

YaBB God
Posts: 2586
Western Sahara

View Profile WWW
« Reply #1 on: August 04, 2012, 12:29:48 pm »

Oh, my God, those Spanish Habsburgs were too spendthrift. What can the poor Spain do? It would be worse if Perú or Bolivia demand us the faboulous amount of silver that Spain stole from their mines in the colonial period. How funny and extravagant seem to be some Polish politicians.
« Last Edit: August 04, 2012, 12:34:18 pm by Gobernador Velasco »Logged
Eternal Sun Of Atlas
YaBB God
Posts: 45998

View Profile
« Reply #2 on: August 04, 2012, 05:44:25 pm »

I motion that the Federal Republic of Germany will pay Poland war reparations for all Teutonic Knights did!

I will obey the Supreme leader Kal Jong Mod, first secretary of the Workers' Party of Korea, first chairman of the National Defence Commission of the Democratic People's Republic of Korea and Supreme Executive Commander of the Korean People's Army.
True Federalist
YaBB God
Posts: 33294
United States

View Profile WWW
« Reply #3 on: August 05, 2012, 04:01:06 pm »

Since at the time the loans were taken out he was also Philip I of England and Ireland, maybe the UK should pay its fair share.  At least they would be able to pay something.

Quote from: Ignatius of Antioch
He that possesses the word of Jesus, is truly able to bear his very silence. — Epistle to the Ephesians 3:21a
The one thing everyone can agree on is that the media is biased against them.
My November Ballot
President: Clinton/Kaine D
US Senate: Thomas Dixon D
US House 2: Arik Bjorn D
SC Senate 20: Scott West G
Pages: [1] Print 
« previous next »
Jump to:  

Login with username, password and session length


Powered by SMF 1.1.21 | SMF © 2015, Simple Machines