Spain

The LTROs may have helped ease this year's roll-over risk (Spain has met almost 50% of this year's refinancing needs). But they have not substantially altered the market's views of the risks of an eventual restructuring.

This is a gold-level post for members only. The EU is deathly afraid of either Spain or Italy getting into trouble and will do almost anything these countries ask. On the other hand, Hungary is expendable. This has clear investing…

This is a bronze level post. These are the links with my daily commentary for 9 Mar 2012 on the Greek PSI deal and the renewed urgency this makes for Spain and Portugal.

Here is a video of my latest appearance on Capital Account with Lauren Lyster. We spoke specifically about the situation in Europe; and that means Greece in the first instance. We also talked a lot about the ECB's LTRO program which I see…

This is a gold level post. So we've got a deal on the Greek restructuring. Everyone is talking about it. Here are the things to pay attention to.

This will be a bronze level post. We see a number of data points in today's links that point to economic growth and employment dynamics that vary widely across the developed economies.

Spanish 10-years yields continue to rise above those of Italy, and suggest that Spain may be the next country in the hot seat. Data released today confirms that the contraction in Spanish industrial production is still ongoing, with…

Spain is on a bad course, with recognised debt about to surge rapidly, while investor confidence in the current administration is slipping. Time for another “game changer” I think, since otherwise this car is about to crash.

This is a silver level post. Spain is now fessing up that its going to miss 2012 targets as well as its 2011 deficit targets. For Credit Writedowns readers, this should come as no shock because I predicted this months ago. Here's the…

The devolution in Spain is particularly troubling. The new fiscal compact had just been signed last week, which includes somewhat more rigorous fiscal rule and enforcement, when Spain's PM Rajoy revealed that this year's deficit would come…