Tag: Spanish Economy 2012

In Europe: Spain Edges Toward Rescue As Regions Aided: Euro Credit

24 July 2012

“Nervousness subsides over the summer and spreads come back significantly.” What a wish!

Spain’s bailout of its regions risks pushing the nation closer to a full international rescue after investors charged the nation more to borrow for five years than for a decade, threatening its access to debt markets. Read more…

In Europe: Spanish Recession Probably Deepened In Second Quarter: Economy

23 July 2012

The most striking part of this article for me: ““Confidence suffered further…”

Spain’s recession deepened in the three months through June as the toughest budget cuts in the country’s democratic history pushed the economy into a third consecutive quarter of contraction, the Bank of Spain said. Read more…

In Europe: Eurogroup approves Spanish banking sector bailout

20 July 2012

“30 billion euros in a first tranche of money.” Who’s next in line?

Euro zone finance ministers approved an agreement on Friday to lend up to 100 billion euros ($123 billion) to Spain so it can recapitalize its banks, but the exact size of the loan will probably only be determined in September. Read more…

In Europe: Spain requests EU aid, market hopes dim

25 June 2012

I thought Spain didn’t want any help? Calls for “joint responsibility for each other’s debts” rejected by Berlin.

Spain formally requested euro zone rescue loans on Monday to recapitalize banks that are laden with bad debts as the euro and shares fell due to investors’ skepticism that a European Union summit this week will act decisively on the bloc’s debt crisis. Read more…