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Tag: Spain

Euro Declines Against Most Majors After Spain Auction Results

Jun 26 2012 10:01:02 Forexbrokerz.com in Market

The euro declined against most major currencies in European deals on Tuesday after Spain's borrowing costs continued to climb at an auction today, increasing concern about the prospects for the economy. Read more

Spain T-Bill Auction Sees Lower Demand, Higher Yield

Jun 26 2012 10:01:02 Forexbrokerz.com in Market

Demand for Spanish short-term debt declined, while the country's borrowing costs continued to climb at an auction on Tuesday indicating increasing concern among investors regarding the prospects for the economy. Read more

Spain Sells 3.08 Billion Euros of Its Short-Term Debt Beats Estimates, Highest Since Nov 2011

Jun 26 2012 10:01:02 Forexbrokerz.com in Market

Spain sold 3.08 billion euros of its short-term debt at the auction amidst country's struggling banksbailout demand The Treasury sold 1.6 billion euros of a 3-month bill, and 1.48 billion euros of a 6 month bill at the auction The yield on the 3-month bill was 2.362 pct, up from 0. Read more

Research: Spain may Fail to Hit Its Target of a Budget Deficit of 5.3 Pct of Gdp

Jun 25 2012 14:31:08 Forexbrokerz.com in Market

Quotes from Societe Generale Cross Asset Research: -Spain has covered 60% of its 2012 financial needs. However, with a rapidly slowing economy, it may fail to hit its target of a budget deficit of 5.3% of GDP  (although  corrective measures already have been taken). Read more

Research: Urgent Measures Must be Taken to Prevent Spain and Italy's Borrowing Costs Increasing Further

Jun 25 2012 11:01:04 Forexbrokerz.com in Market

Quotes from Societe Generale Cross Asset Research: -Spanish and Italian yields soared again last week, getting even closer to the unsustainable levels at which Ireland, Greece and Portugal requested a sovereign bailout for the first time. Read more

Research: Spain Suffers from a Clear Lack of Competitiveness

Jun 25 2012 10:31:09 Forexbrokerz.com in Market

Quotes from Societe Generale Cross Asset Research: -With labour costs having risen by almost 35% since the euro was created, compared to less than 5% for Germany, Spain suffers from a clear lack of competitiveness, which is weighing on growth. Read more

Research: Markets have Lost Confidence in Spain

Jun 25 2012 10:31:09 Forexbrokerz.com in Market

Quotes from Societe Generale Cross Asset Research: -The Spanish risk premium reached a new historical high  lastweek, with the 10-year government yield  breaching the 7% threshold. Read more

Research: Non-Performing Loans Increasing Sharply in Spain

Jun 25 2012 10:31:08 Forexbrokerz.com in Market

Quotes from Societe Generale Cross Asset Research: -Non-performing  loans are increasing and represent over 8% of total Spanish loans, driven mainly by construction and real estate loans, as the recession is progressively forcing companies and households into default. Read more

Spain Submits Formal Request For EU Aid

Jun 25 2012 10:01:08 Forexbrokerz.com in Market

The Spanish government on Monday formally asked for a bailout from the European Union to shore up its ailing banking sector. A formal letter was sent to Eurogroup President Jean-Claude Juncker by Spanish economy minister Luis De Guindos in this regard. Read more

Spain Formally requested European Aid of up to ?? 100 Billion Banking Sector

Jun 25 2012 09:31:09 Forexbrokerz.com in Market

Spain formally requested European aid of up to €100 billion for its banks, the Economy Ministry, Guindos said in a statement. Guindos also confirmed his intention to sign a MOU for the package, which would include full details, by July 9. Read more

Spain to Stress Test Banks Again by Oct to Focus on Seven Lenders

Jun 22 2012 18:31:12 Forexbrokerz.com in Market

Spain will carry out stress tests of its banks by Oct with a focus on seven lenders - document showed after audit The test gives Spain at least two more months to negotiate for direct cash injections into lenders as part of a European aid package Economy Minister Luis de Guindos said direct E... Read more

Germany, France, Italy and Spain Wants Euro to Stay - Monti

Jun 22 2012 15:31:05 Forexbrokerz.com in Market

Italian Prime Minister Mario Monti said that Germany, France, Italy and Spain want the conclusions of the EU summit to be more solid and credible The leaders of the G4 countries wants clear medium- and long-term vision for greater integration" in the EZ, he said. Read more

Juncker: Greece To Get EUR 1Bln, Expects Spain To Make Aid Request By Monday

Jun 22 2012 04:31:03 Forexbrokerz.com in Market

Eurozone finance ministers have agreed to release the remaining 1 billion euros of the first installment under the second bailout to Greece by the end of this month, which was withheld due to concerns about the election outcome on June 17. Read more

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