Daily Archives | Euro crisis
Moody’s Downgrades Spanish Banks
May 18th, 2012
READ MOREDistress continues in Europe. On Thursday Moody’s downgraded sixteen Spanish banks including BBVA and Santander, two of the biggest financial institutions in the country. The ratings agency mentioned the reduced ability of Spanish government to support them in a crisis. …
A Possible Greek Exit From the Euro
May 18th, 2012
READ MOREThe European Central Bank and the European Commission are making contingency plans for a possible Greek exit from the euro, according to a note published by BBC News. Karel De Gucht, trade commissioner, considers that the plans could minimize any …
Spain Takes Over Bankia
May 17th, 2012
READ MOREThe rumors published in our site kandeofund.com have been confirmed. The Spanish government took over Bankia, the country’s fourth largest lender, in a deal that will give the state a 45% indirect stake. Uncertainty over the cost of Spain’s banking …
Bank Rescue in Spain
May 9th, 2012
READ MOREThe Spanish government is planning a state bail-out of Bankia, the country’s third biggest bank by assets. The move is likely to involve the injection of billions of Euros of public money. The Spanish government changed abruptly its policy. It …
A Coalition Against Bailout Deal in Greece
May 9th, 2012
READ MOREGreek leftist Alexis Tsipiras, said that if he becomes Greece’s prime minister he will try to cancel the international loan agreements. He has asked the two major parties to reject “barbaric” austerity measures. “We will exhaust all possibilities to reach …
Greece: a “Time Bomb”
May 8th, 2012
READ MOREAn article published by BBC news explains the Euro decline after the elections held in France and Greece. The euro reached its lowest level since January against the dollar: $ 1.295. In Greece the Syriza party which has opposed austerity …
Spain Falls into Recession
May 1st, 2012
READ MOREAccording to a government report released on Monday, Spain has fallen into its second recession since 2009. Its economy shrank for the second consecutive quarter. Affected by the aftermath of the bursting of a housing bubble, on Friday the government …
Spain Downgraded by S&P
April 30th, 2012
READ MOREEurope’s crisis is gathering forces again. On Thursday Spain’s debt was downgraded two notches (from A to BBB+) by ratings agency Standards and Poor’s. The agency said the downgrade “reflects our view of mounting risks to Spain’s net general government …
Euro-Region Debt Rises to Highest
April 24th, 2012
READ MORELast year the debt of the euro region rose to the highest level since the start of the single currency. In 2010 the debt of the 17 euro nations was 85.3 percent of gross domestic product. A year later it …
Italy Slashes its Growth Forecast
April 19th, 2012
READ MOREFew months ago Italian financial authorities calculated a 0.4% contraction in the national economy. On Tuesday they cut the prediction to a 1.2 % contraction. The government admitted that it will not be able to balance the budget by 2013. …