Posts from Saturday Jun 9 2012

‘The Eurogroup supports the efforts of the Spanish authorities…’

Or, up to €100bn in EFSF and/or ESM loans channelled to the bank recap fund (with conditions on structural and bank reforms but without specific fiscal demands), while Spain itself carries on issuing in the market.

Click image for full Eurogroup statement:


Trending, rápidamente in Spain on Saturday…

It means “Not a rescue, it’s a looting.” H/T @pdacosta Read more

Moody’s tries to ruin our weekend, would have succeeded were it not already ruined

We already knew we’d have to watch for a Spanish banking bailout request tomorrow.

Now comes Moody’s with a report warning that “recent developments in Spain and Greece could lead to rating reviews and actions on many of the euro area countries” — and offering a generally downbeat if less-than-original assessment of the euro zone’s future in general. Read more