Spain hits the 7% bond level, Farage responds

[-:Undertaker:-]

http://www.telegraph.co.uk/finance/d...-on-Spain.html

Spanish bond levels hit 7% today as Euro contagion spreads

Moody's credit ratings agency slashed Spain three notches to Baa3 on Wednesday, its lowest investment grade rating. The credit ratings agency said the newly approved eurozone plan to help Spanish banks would increase the country's debt burden. Eurozone finance ministers agreed on Saturday to lend Spain up to €100bn (£81bn) to shore up its teetering banks, a move that did little to reassure markets.

Professor Pablo Triana, from Spain's ESADE Business School, warned that this may not be the end to Moody's action on Spain. "The rating by Moody's has not been just a rating but we've also been placed on negative watch," Professor Triana said. "Moody's has stated that it's going to wait for developments but that there is a possibility for further action on Spain and junk status." But he added that the ratings slashing was "not a surprising development". "Moody's has been warning about it and it's one of the ironic consequences of the bailout plan for the banks."

Just today Italian bonds have jumped and earlier today Spanish bonds hit the crucial 7% mark.

Farage responds to £100bn Spanish bailout..

I was speaking to a German exchange student yesterday about the crisis, and he said Germans were very angry - he wanted out of the Euro and out of the European Union. It's rather important, because Germany has always been bullied by other nations into accepting the yoke of the EU project under the banner of war guilt - when I said this to him he nodded earnestly.

Thoughts?

[efq]

http://www.telegraph.co.uk/finance/d...-on-Spain.html

Spanish bond levels hit 7% today as Euro contagion spreads



Just today Italian bonds have jumped and earlier today Spanish bonds hit the crucial 7% mark.

Farage responds to £100bn Spanish bailout..

I was speaking to a German exchange student yesterday about the crisis, and he said Germans were very angry - he wanted out of the Euro and out of the European Union. It's rather important, because Germany has always been bullied by other nations into accepting the yoke of the EU project under the banner of war guilt - when I said this to him he nodded earnestly.

Thoughts?

I seriously think the UK has to bail, otherwise the contagion will end up us having to fork out little we have on these countries.

[GommeInc]

I do find him interesting to listen to, he doesn't sound like a background, droning noise like the two sorry leaders we currently have.

I'm amazed by how the Spanish Finance Minister thought this was it, the debt problems are all gone thanks to this bailout. It will be gone soon, and they will need yet another bailout. It's just going to be a painful circle, with Italy and Greece all in the spin too.