eurozone crisis

Eurozone Crisis – Spain Bailout or Bailin?

Fresh news from the oven – pressed by its own provinces, Spain is asking for bailout money, but Germany withheld it for the moment. A coordinated rescue program could pave the way for the European Central Bank to buy Spanish bonds. Noone knows when ECB will intervene and probably the markets are uncertain about the magnitude itself- which explains why FTSEurofirst index of top European shares opened 0.4 percent lower this morning. But this is not a big decrease after all, it is just reflecting the above mentioned uncertainty on the markets.Read More »Eurozone Crisis – Spain Bailout or Bailin?

Eurozone Crisis – Despite Appearances, the Greek Tragedy Continues

Yesterday, Angela Merkel has virtually approved the creation of the European Fund destined to combat the crisis. In her declarations, she suggested that the European Union makes sense only tied together, not separately, which should definitely help the PIGS stay in. In the other hand, the Greek government pledged to continue slashing its debt with 11.5 billion Euros. True, as a pre-condition of receiving another 31 billion euros in international loans – nevertheless, this is a massive effort from the Greek government.Read More »Eurozone Crisis – Despite Appearances, the Greek Tragedy Continues

Eurozone Crisis – Spain Successful at Selling Bonds, But For How Long

Yeah yeah, Spain has finally been able this September to sell some bonds on the international markets. If you look also at the announcement that Spain might freeze pensions increase and increase the retiring age, there is some room for optimism. On top of these, Spain has announced that they might even reach a deal next week with the European bailout fund (despite denials from the German Finance minister Wolfgang Schaeuble. But will these news be enough to save Spain from default?Read More »Eurozone Crisis – Spain Successful at Selling Bonds, But For How Long