Tag Archives: Spain

Spain police clash with austerity protesters

From YouTube (courtesy of Al Jazeera): Eurozone ministers are expected to give their final approval of a huge bailout of Spanish banks on Friday. But in Madrid, police fired rubber-coated bullets to disperse protesters. They are angry at the latest … Continue reading

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Spanish Debt Crisis

Riot police and protesting miners have clashed in Madrid as the Spanish prime minister Mariano Rajoy announces more sweeping austerity measures, including a rise in VAT and other taxes, and increases to spending cuts. Source Syntagma Riotcam Resumes Broadcasting From … Continue reading

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Monday Morning Roundup: Egypt, Greece, France, Spain and Italy

A supporter of the Muslim Brotherhood’s presidential candidate Mohamed Morsy kisses a picture of him during a celebration at Tahrir square in Cairo June 18, 2012. The Muslim Brotherhood’s Mohamed Morsy said on Monday after his group declared him winner … Continue reading

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Moody’s Downgrades 12 Spanish Sub-Sovereigns, 2 Gov-Related Entities

Moody’s Investors Service downgraded 12 Spanish sub-sovereign ratings and two Spanish government-related entities to reflect its recent downgrade of the country’s sovereign debt rating. Eight regional and local governments and four related issuers were affected. The ratings of three other … Continue reading

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Spain: the beginning of the end

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The Genius of Mutual Indebtedness – Nigel Farage

Transcript: “Another one bites the dust. Country number four, Spain, gets bailed out and we all of course know that it won’t be the last. Though I wondered over the weekend whether perhaps I was missing something, because when the … Continue reading

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Biderman’s Daily Edge 6/6/2012: End Game Nearing for European Banks

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G7 to hold emergency eurozone talks, Spain top concern

(Reuters) – Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis on Tuesday in a sign of heightened global alarm about strains in the 17-nation European currency area. With Greece, Ireland and … Continue reading

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Nationalized Spanish Bank Plummets On News Of Bank Run

Bankia hit by report of withdrawals Shares in Bankia, the Spanish bank that was part-nationalised last week, plunged by more than a quarter on Thursday morning, after a report that customers had withdrawn €1bn from the bank over the past week. The … Continue reading

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Test Balloon in Spain: Forcing Citizens and Businesses to Buy Government Bonds

(Financial Times) — Spain has taken a 45 per cent stake in Bankia, the country’s third-largest bank by assets, as worries over the financial system sent equity and bond markets falling on Wednesday.  The Bank of Spain said Bankia and … Continue reading

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S&P Cuts Spain to BBB+, Outlook Negative

Adding insult to Bayern Munich injury, we just got S&P which did the impossible and cut Spain to BBB+ from A (outlook negative) not on Friday after hours. Kneejerk reaction is a 30 pip drop in EURUSD. Oh, and most … Continue reading

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Austerity Measures, General Strike and Riots in Spain

From YouTube: Riot police took to the streets of Spain as protesters burned bins, vandalized shops and attacked officers during a one day nationwide general strike. Spaniards angry with having the eurozone’s highest unemployment rate refused to go to work … Continue reading

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When Will Greece Leave the Eurozone?

Will Greece become the first country to abandon the Eurozone and return to the drachma? My money is on Spain or Italy. Greece’s debt is too small to be of concern compared to the giant collapses about to happen in … Continue reading

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This Won’t Be Pretty on Monday Morning

Will this be the last straw to decouple gold from the stock market? Unless some very strong measures are finalized over the weekend, next week’s financial markets may become a bloodbath. David DeGerolamo S&P Cuts Credit Ratings for Nine Euro … Continue reading

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The Dominoes Are Falling

The following articles have been written in the past week: Standard & Poor’s Lowers Belgium’s Credit Rating The Standard & Poor’s credit rating agency has lowered Belgium’s long-term credit rating from AA+ to AA- with a negative outlook. S&P said … Continue reading

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