Spain

Must-read: Spain and German austerity The World from Berlin: Merkel's Austerity Program Is 'Faint-Hearted and Unbalanced' - SPIEGEL ONLINE - News - International BBC News - German cabinet backs Merkel fiscal austerity plan…

Spanish savings banks, called cajas, are finally moving.  It took the central bank to take over CajaSur, which is controlled by the Catholic church in Cardoba, ten days ago to light a fire under the others.  There were about 45 of…

The number of unemployed in Spain dropped in May by 76,223, the second consecutive monthly drop. While this is a positive data point, the drop is largely due to seasonal actors and more than 4 million people remain unemployed.  Yet, to…

Must-read: The Crisis in Spain La Caixa cree que la fusión con Caixa Girona beneficia a Cataluña - ABC.es Spanische Regierung kündigt weitere Einsparungen an (Wirtschaft, Aktuell, NZZ Online)  Spain labor reform deadline…

Well, here I am spending my last day in Sitges, attending the annual meeting of the Circulo de Economía (which is why I have been so silent of late). This annual meet-up tends to attract many of the leading participants in Spanish economic…

This comes via Win Thin at Brown Brothers Harriman: Fitch downgraded Spain to AA+ from AAA and inexplicably with a stable outlook.  Stable?  Spain should be downgraded multiple notches.  This comes a few weeks after…

The Spanish government passed its proposed austerity budget by just one vote earlier today. Failure to get the vote would have toppled the government and led to serious panic. We should definitely turn our attention to Spain now. It's not…

Three month dollar LIBOR has edged up again today.  It has risen every day since May 10th, though the pace has slowed.  This reflects the demand for dollar funding.  While the focus in on European banks, the scramble to…

Here are two stories that I have picked up on in the last hour that demonstrate how contagion spreads during a panic. Both stories involved the strongest of actors within the Eurozone. The first story is from Spain. The Wall Street Journal…

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