The bailout and Spain: a guide, so far
Luis Martí, former World Bank director, briefs us about the map of a no-one’s land where the Spanish government seems to be wandering in search of Brussels help to face its financial needs.
Spain
Wall Street freeze thaws for some euro peripheral banks
Investors have responded with interest to some recent capital increase plans and debt sales from large Spanish banks. But it is too early in the year to infer an improvement in perceptions.
Brussels uncertainty is killing the chance of a Spanish recovery
BARCELONA | While macroeconomic estimates are revised downwards in Madrid and elsewhere, CaixaBank analysts point the blame finger at the seeming inability of euro zone big deciders to come to terms with the urgent fiscal and banking union.
Madrid-Barcelona doors still wide open
Something happened Friday September 28. Catalonia sold €2 billion in bonds and Spain’s Treasury minister announced that the regions rescue fund is now open for business to provide capital aid to Barcelona. The central government has a strong case to deactivate the Catalan conflict while reassuring markets with a restructuring plan of the state’s administration.
“Germany’s position is excessively unclear”
It will not look good for the political party in office in Madrid, analyst at Self Bank Victoria Torre told Julia Pastor, but requiring a rescue is only a matter of when. And the Spanish government wouldn’t be the only one to blame.
What the Bank of Spain also said but you didn’t hear
Did you know non-resident tourist spending grew by 8.9 percent in July year on year? Analyst at Barclays Spain Alberto Vigil collected today some positive data the Bank of Spain released in its latest bulletin.
The Spanish donkey
Managing director at Re-Define, Sony Kapoor is a former investment banker and adviser to governments and international organizations. Kapoor argues that, unless Brussels change course, Spain will end up split between austerity and banking losses.
No one ready to foot the Euro rescue bill
What exactly is Germany doing? It may succeed in shying away from the rescue bill now but it risks loosing the euro area market. Economist JP Marín Arrese warns the collapse of the common currency is not far from becoming a very real threat.
Berlin steps on the Spanish accelerator towards a full bailout
Why the German government believes it should force Spain into a national rescue like Greece, Ireland and Portugal did before is a puzzling question for Madrid. The markets are not quite sure, either.
S&P wonders if Spain may need bailout, but Madrid dreads Moody’s
From London to Madrid, analysts find there could be a slim chance of Spain avoiding a national rescue. Risk agency S&P agrees. As financial conditions improve for the country, though, bond auctions give only some extra time but not definitive solutions.