NEW YORK | Debt market turmoil and Spain’s borrowing squeeze is now hot news in the US. Experts are talking about investors fears, record-high interest rates and credit freeze but some of them are also lining up for an idea: Berlin and others with big surpluses need to save less and spend more. For The Huffington Post Business editor, Peter S. Goodman, “Germany’s inflation fetish is a major global economic…
The Prime Minister of Luxembourg and chairman of the Eurogroup Jean Claude Juncker made stark remarks on the “disturbingly large amount of the German debt,” which the Bonn paper General Anzeiger published on Thursday. “‘Germany has a higher debt than Spain. But nobody here wants to acknowledge this,’ said Juncker, who expresses understanding regarding the fears of Germany caused by the current financial crisis. “‘Here (in Germany) they witnessed, twice,…
From the Spanish newspaper El Mundo | During the last three years, the Spanish government has lashed out against the markets, the speculators, the rating agencies and even against the Anglo-Saxon press because of the ‘distorted image’ it believes they present of Spain and its economy. Spain’s financial minister and deputy president Elena Salgado, and the Secretary of State for the Economy José Manuel Campa have repeatedly had to travel…
From the Spanish newspaper El Mundo | During the last three years, the Spanish government has lashed out against the markets, the speculators, the rating agencies and even against the Anglo-Saxon press because of the ‘distorted image’ it believes they present of Spain and its economy. Spain’s financial minister and deputy president Elena Salgado, and the Secretary of State for the Economy José Manuel Campa have repeatedly had to travel…
The International Monetary Fund is urging Spain to take a page from Ireland and use an independent auditor to evaluate its banks, saying that could boost confidence. Speaking to reporters during the annual meetings in Washington, Antonio Borges, IMF’s European department head, said this should be the right thing to do, since financial market fears of the situation in many European countries have become “excessive,” especially in regard to Italy…
After one of the worst sell-off days in weeks and talking about the “European problem”, some brokers find in Spain reasons for hope: “I think there is some reason for optimism with respect of Europe. Spain is an example. They are taking the hard steps. They are going to have an election in November that will likely make the conservative candidate the new Prime Minister of Spain and they will…
Spain’s best-seller financial daily Expansión reflected on Friday how adamant the country’s banking authorities are to clear the air after the Financial Times named seven entities among a European selection of 16, all of which apparently were in extremely urgent need to raise tier 1 capital. “The British newspaper FT yesterday published, quoting a senior French official, that the European Union is to push for critical re-capitalisation of 16 banks and…