By RAPHAEL MINDER MADRID — The Spanish prime minister on Sunday called his country’s banking rescue by Europe a victory for the euro zone but hastened to describe it as a deal that was drawn up on his country’s own terms. “Nobody pressured me, I was the one who pressured to get credit,” Prime Minister…
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European Crisis
Spanish PM tries to send ‘message of calm’ – Full story
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(via AFP) Spanish Prime Minister Mariano Rajoy tried to play down fears the country would need an international bailout, saying the country would eventually find its way out of the financial crisis on its own. After a dismal week that saw the country’s borrowing costs soar, Rajoy, speaking at an economic forum…
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Why merging Spain’s troubled banks won’t fix the country’s debt crisis
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Bank mergers solve the debt crisis. At least that is the strongly held view in Madrid, where Spanish prime minister Mariano Rajoy is considering yet another rescue, this time involving a possible merger of Ibercaja with rivals Liberbank and Caja3. It follows a longstanding policy, established by the previous socialist administration, that smashing together almost…
European Crisis
Investors flee Spanish debt amid bank bailout fears – Full Story
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(via AFP) Spanish Prime Minister Mariano Rajoy has admitted the state is struggling to borrow, as its risk premium hit a euro-era record and fears spread over the country’s stricken banks. Rajoy sought Monday to calm investors after the distressed lender Bankia pleaded for the biggest state rescue in Spanish…
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Hollande Defies German Crisis Handling on Euro Bonds, Banks – Bloomberg
by Lee Adler • • 0 Comments
French President Francois Hollande challenged Germany’s handling of the financial crisis as he headed to his first European Union summit with calls for joint borrowing and cash injections to struggling banks. Hollande teamed with Spanish Prime Minister Mariano Rajoy to press for tonight’s meeting of EU leaders to break with German-dominated budget-cutting policies that have…
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Spanish banks don’t need European rescue: PM – Full Story
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Spanish banks don’t need European rescue: PM (via AFP) Spanish Prime Minister Mariano Rajoy said he did not believe that Spain’s banks would need rescuing by Europe. “I don’t think so,” Rajoy told journalists on Saturday after arriving in Chicago to take part in a two-day NATO summit, expressing surprise after French President Francois Hollande…
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Spain Urges EU to Provide More Support – Wall Street Journal
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AFPSpain Urges EU to Provide More SupportWall Street JournalBy DAVID ROMAN And JONATHAN HOUSE MADRID—Spanish Prime Minister Mariano Rajoy Wednesday urged the European Union to provide more support for the bloc's fiscally frail members as borrowin…
