Spain

Spain on Monday will formally ask its eurozone partners for up to €100bn to recapitalise its banks, opening a week of diplomatic activity that will culminate in a European Union summit on Thursday night to address the region’s damaging sovereign debt cri ...

Daily Headline - global.abi.org - 06/24/2012 - 17:25 - 0 comments

Spain said its crisis-hit banks will need as much as €62 billion ($78.75 billion) in new capital to absorb losses from a real-estate meltdown, as the International Monetary Fund warned that the euro-zone plan to aid the country may not work, The Wall S ...

Daily Headline - global.abi.org - 06/21/2012 - 21:29 - 0 comments

The dismal market reaction to the euro zone's promise to pump as much as €100 billion ($125.75 billion) into shaky Spanish banks—underlined by the high yield the government paid on Tuesday to raise short-term funds—is prompting a rethinking of the r ...

Daily Headline - global.abi.org - 06/19/2012 - 20:39 - 0 comments

The brief afterglow from Greece's vote Sunday to try to remain in the euro was quickly extinguished by a cascade of bad news out of Spain that again rattled faith in the currency bloc's ability to support its most troubled members, The Wall S ...

Daily Headline - global.abi.org - 06/18/2012 - 21:42 - 0 comments

Spain's borrowing costs jumped to a record Thursday, fanning concerns that the €100 billion ($125 billion) aid package planned for its banks won't suffice to stave off a much larger bailout for the entire country, The Wall Street Journal re ...

Daily Headline - global.abi.org - 06/14/2012 - 20:44 - 0 comments

After clinching a $125 billion bailout for Spain’s banks, Prime Minister Mariano Rajoy flew to Poland on Sunday for the Spanish team’s soccer match, declaring “this matter is now resolved.” Not so fast, prime minister. On Tuesday, Spain’s long-term borro ...

Daily Headline - global.abi.org - 06/12/2012 - 22:14 - 0 comments

Spain’s Treasury on Monday vowed to continue as normal with sovereign bond auctions, arguing that the eurozone’s weekend agreement on a €100bn bailout for Spanish banks would underpin the country’s debt market, the Financial Times reported. Market an ...

Daily Headline - global.abi.org - 06/11/2012 - 20:57 - 0 comments

Euro zone finance ministers have agreed to lend Spain up to €100 billion to shore up its teetering banking system, the Irish Times reported. Madrid said it would specify precisely how much it needs once independent audits report in just over a week. ...

Daily Headline - global.abi.org - 06/10/2012 - 21:39 - 0 comments

German chancellor Angela Merkel said Europe was ready to act to ensure stability in the euro zone as Spain's credit rating was cut by three notches today amid expectations it may soon seek EU help for banks beset by bad debts, the Irish Times re ...

Daily Headline - global.abi.org - 06/07/2012 - 22:28 - 0 comments

Spain has made its most explicit call to date for European institutions to recapitalise the country’s banks amid concerns about its own ability to raise the billions of euros needed on sovereign bond markets, the Financial Times reported. Cristóbal M ...

Daily Headline - global.abi.org - 06/05/2012 - 21:48 - 0 comments