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Spain is getting a bailout
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Euro area finance ministers have agreed on the terms of a bailout for Spain's troubled banks, saying that €30bn can be ready by end of this month to help save one of the largest countries in the eurozone from needing a full bailout.
Ministers also agreed to grant Spain an extra year until 2014 to reach its deficit reduction targets in exchange for further budget saving.
Telegraph.co.ukThere is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
That can just keeps being kicked!
What's the point in suggesting deadlines for resolutions if they just extend again and again and again?0 -
Given the eurozones inability to keep to any rules or targets they set themselves in the past, what is going to make this 3% target any different? They are already bending their own rules on it. So what's the point.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0
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Spain has seen their cost of borrowing increase again today.
Even after the bank bailouts. Even after the extensions to repay debt.
It's like groundhog day.
New summit please.Debt-laden Spain has raised 2.98bn euros (£2.3bn) on the financial markets, but was forced to pay higher interest rates.
The average yield on bonds repayable in five years rose to 6.46%, against 6.07% at an auction last month.
The average yield on seven-year bonds was 6.7%, up from 4.83% last time.0 -
Spanish Treasury minister Cristobal Montoro this morning:
"It is time to call a spade a spade. Financing public services with more deficit and more debt will doom us."There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
worldtraveller wrote: »Spanish Treasury minister Cristobal Montoro this morning:
"It is time to call a spade a spade. Financing public services with more deficit and more debt will doom us."
I think you mean Ex Treasury Minister
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worldtraveller wrote: »Spanish Treasury minister Cristobal Montoro this morning:
"It is time to call a spade a spade. Financing public services with more deficit and more debt will doom us."
Don't tell me someone's at last woken up to that fact.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0 -
worldtraveller wrote: »Spanish Treasury minister Cristobal Montoro this morning:
"It is time to call a spade a spade. Financing public services with more deficit and more debt will doom us."
With a name like Cristol ball (!), you'd have think they'd have seen this problem coming.;)
...and I'm really sorry for that really bad name joke.:oAnger ruins joy, it steals the goodness of my mind. Forces me to say terrible things. Overcoming anger brings peace of mind, a mind without regret. If I overcome anger, I will be delightful and loved by everyone.0 -
10 year bonds now back above 7%. This is after MPs granted a full £80bn bailout fund for the spanish banking system....last night!
The 7% figure has some analysts suggesting this could instigate a further bailout (not sure how many we had now) to be put on the table.
Wheres the god damn summit!!
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Well, the Valencia regional administration is looking to raid the Spanish €18 billion emergency-loan fund and it's being reported that Murcia will want to do the same. No surprises there really, as many analysts are saying that at least six of the autonomous regions will also want to. The total of seventeen regions need to refinance €36 billion in debt this year. Again, just putting off the inevitable bailout required for Spain.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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