The latest information out of Europe comes via the Financial Times where Miles Johnson writes that the Spanish are geared up to sign a Memorandum of Understanding with the Troika. Other countries are holding things up, according to this story. And when those issues sort themselves out, the MoU is a go. But no bailout will be needed, because Spain believes just signing the MoU will be enough to cause markets to lower Spain's rates, the story says. I don't find this entirely credible.
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.