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Spain Bailout

Spain Needs a Democratic Bailout

Carlos Carnicero Urabayen | Posted 12.01.2012 | World
Carlos Carnicero Urabayen

The costs of saving the euro and keeping Spain within the club are too high, both in social and democratic terms. We may succeed but, should we follow this path, we may be leaving democracy behind.

Thousands Of Spain Protesters Stormed Parliament, Many Beaten By Police

AP | ALAN CLENDENNING | Posted 11.25.2012 | World

MADRID — Spain's government was hit hard by the country's financial crisis on multiple fronts Tuesday as protestors enraged with austerity cutba...

'Robin Hood' Mayor Robs Supermarkets, Gives Food To Poor

Reuters | Paul Day | Posted 08.15.2012 | Money

MADRID, Aug 15 (Reuters) - A Spanish mayor who became a cult hero for staging robberies at supermarkets and giving stolen groceries to the poor sets o...

There May Not Be Enough Money Available To Bail Out Spain

AP | DAVID McHUGH | Posted 07.24.2012 | Business

FRANKFURT, Germany -- Europe is on the brink again. The region's debt crisis flared on Monday as fears intensified that Spain would be next in line fo...

Bank Bailout Approved

AP | DON MELVIN | Posted 09.18.2012 | Business

BRUSSELS (AP) — Concerns about Spain's crippling financial problems flared again Friday as even news that the country had been given the final go-ah...

Spain's Brutal Cuts Can't Lead to Growth

Jeffrey Rubin | Posted 09.18.2012 | Business
Jeffrey Rubin

If financially wayward countries such as Greece and Spain are to get back on the path of economic growth, they do have at least one arrow left in the quiver -- leaving the euro.

Look At The Size Of That Bailout

AP | Posted 09.14.2012 | Business

BERLIN — The European Union's bailout fund is working on a (EURO)100 billion ($120 billion) package to prop up Spanish banks, according to a rep...

Euro Leaders Agree To Spain Bailout Terms

Reuters | Posted 09.08.2012 | Business

By Robin Emmott and Francesca Landini BRUSSELS, July 10 (Reuters) - Euro zone ministers agreed early on Tuesday to grant Spain an extr...

Here Comes The Spanish Firesale

Reuters | Posted 08.26.2012 | Business

* Equity stakes at risk of sale worth 22 billion euros -UBS * As much as 9 pct of blue-chip index market cap at stake * ...

Stocks Plunge On Spain Bailout Request

AP | MATTHEW CRAFT | Posted 08.25.2012 | Business

NEW YORK — Europe's latest efforts to quell its financial crisis left investors exasperated Monday, causing steep losses in stock markets on bot...

Procrastination Is Costly, Action Is Priceless

Otaviano Canuto | Posted 08.25.2012 | World
Otaviano Canuto

Haven't similar experiences in the debt crises of the 1980's, Russia in 1998, and Argentina in 2001 taught us that waiting too long to restructure in situations of clear insolvency can be more costly in the end?

Euro Crisis: If We're Heading Towards a 1930s-Style Depression -- Why Is the Stock Market So Bullish?

Steven Strauss | Posted 08.19.2012 | World
Steven Strauss

This crisis is not happening quickly. It's more of a slow-motion train wreck -- Greece's crisis started in 2009. But that leaves a puzzle -- why is the American stock market not reacting to obvious warning signs?

Spain Debt Becomes 'Prohibitively Expensive'

AP | DANIEL WOOLLS | Posted 08.18.2012 | Business

MADRID (AP) — Spain found it increasingly difficult to find buyers for its debt Tuesday when it had to pay a sharply higher interest rate in an auct...

Spain's Bank Bailout Can't Save Europe

Michael Pento | Posted 08.14.2012 | Business
Michael Pento

After the euphoria from the Spanish bailout ends, look for sovereign bond yields to once again rise, along with credit default swaps on that debt, and for global markets to continue lower. There is simply no magic bullet or elixir that can save Europe from a tremendous amount of pain.

An Ugly New High In Spain

AP | HAROLD HECKLE and ALAN CLENDENNING | Posted 08.14.2012 | Business

MADRID — Spain's borrowing costs broke through another record Thursday after a credit ratings agency downgraded the country's ability to pay dow...

Merkel: Fiscal Union An Unavoidable 'Herculean Task'

Reuters | Posted 08.13.2012 | Business

* Merkel speaks in parliament before June 18-19 G20 summit * Calls debt mutualisation "counterproductive" * German leade...

Spanish Prime Minister Calls For European Integration To Save Euro

AP | HAROLD HECKLE and ALAN CLENDENNING | Posted 08.13.2012 | Business

MADRID — Spain faced mounting pressure Wednesday to bolster confidence in its financial system just days after accepting a (EURO)100 billion ($1...

Another European Country May Be Asking For A Bailout

AP | MENELAOS HADJICOSTIS | Posted 08.13.2012 | Business

NICOSIA, Cyprus — Moody's credit ratings agency on Wednesday drove Cyprus deeper into junk status with a two-notch downgrade to Ba3 over an incr...

Germany To Italy: Stick To Austerity Measures To Avoid Crisis

Reuters | Posted 08.13.2012 | Business

* Italy's Monti appeals for politicians' backing * Schaeuble offers Monti encouragement * Investors stil...

Market Comeback Could Undo 'All The May Losses'

Reuters | Posted 08.12.2012 | Business

* Volatile trading before weekend Greek elections * Spanish bond yields come off euro-era high * Short interest on NYSE highest since Octobe...

Bank Downgrades Have Big Effect On Spain Bonds

AP | ALAN CLENDENNING and HAROLD HECKLE | Posted 08.12.2012 | Business

MADRID — Spain's benchmark borrowing rate hit its highest level Tuesday since the country adopted the euro currency, after ratings agency Fitch ...

Spain Shows Policymakers Are Running Out of Time

Mohamed A. El-Erian | Posted 08.12.2012 | Business
Mohamed A. El-Erian

Difficult decisions need to be made now, and not just about individual countries but also about the composition and functioning of the euro zone as a whole. There is still time for policymakers to regain control. But not much.

Italy Next In Line For Bailout?

Reuters | Posted 08.12.2012 | Business

* Fekter says Rome's high borrowing costs may drive it to aid * Italy's Monti calls comments "totally inappropriate" * ...

It Could Have Been Worse

Emilio Ontiveros | Posted 08.11.2012 | World
Emilio Ontiveros

Solutions must be contemplated in relation to the magnitude of the problems for which they're destined. And the open-ended problem of the Spanish banking system was, until Saturday, certainly complicated.

Ireland: Our Bailout Is Just As Good As Spain's Bailout

Reuters | Posted 08.11.2012 | Business

* Spanish PM, Irish opposition say Spain got better deal * Irish govt says some of its terms better than Spain's * Says ...