Spain

Spain's Finance Minister Salgado says the downgrade of Portugal earlier today does not put pressure on Spain. It is true as far as it goes, but of course Spain's problem transcends Portugal. The ruling Socialists in Spain are seven seats…

The credit rating agency Moody's has cut the credit rating of Portugal two notches to A1 from Aa2. While the move is not entirely unexpected, it is having a negative effect on the euro. Expect Marc Chandler to say something about this in…

From the IMF to the G20, from bloggers to Nobel prize winning economists, there have been calls for the major developed countries to reduce deficits and stabilize debt to GDP ratios.  The idea is that if this is done properly it need…

I am going through the BIS Quarterly Review that just came out and it is packed with useful information about the global economy.  With regard to the sovereign debt crisis, I found the following chart a good one for getting a feel for…

Highlights The US dollar is broadly lower, following a successful Spanish bond auctions and indications that the Swiss National Bank is not prepared to continue the heavy intervention that was reported last month.  After a slow start…

There have been several press reports in recent days, all vehemently denied, that a multilateral effort is underway to put together a special aid package for Spain.  Often times, one hears "where there is smoke, there is…

Highlights The US dollar is consolidating its recent losses and is enjoying a somewhat firmer tone today.  Although the initial advance in the euro was helped by a favorable news stream, macro-developments do not appear to be driving…

For the fifth day, the euro is recording higher highs and higher lows. It has advanced by roughly 3.25% since last Monday's lows.  While we recognize an improved news stream, the main circumstances of the European debt crisis have not…

That was the week that was, it’s over, let it go……. Well I don’t suppose it’s that often that people get the opportunity to enthuse about the International Monetary Fund. Normally you find people like Joseph Stiglitz, or Naomi Klein, who…

Topic of the Day: Spain Spain: labor market reform talks fail - CNBC Spain Sees Solid Demand for New 3-Year Bond – CNBC El empleo pblico aumenta un 5,3% en plena crisis - ABC.es The Usual Fare SEC Investigation of Goldman…