Tag Archive | "euro currency"

Spain to unveil anti bad bank reform

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MADRID (AP) – The Spanish government is expected to unveil a reform package for its troubled banks later, that’s aimed at convincing investors that the sector is solvent and the country has a strategy to avoid the bailout fate of Greece, Ireland and Portugal. The package is expected to include measures obliging banks to increase [...]

Greece’s political crisis spikes Spanish bond yield

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MADRID – The pressure on Spain’s bonds has ratcheted up as investors fret over the fallout from Greece’s political crisis and await details of the Spanish government’s latest plan to shore up the banking sector. The yield on the benchmark Spanish 10-year bonds is flirting with the 6 percent level. Just before noon it stood [...]

Concern grows over euro survival after Greek election

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ATHENS, Greece -Last week’s inconclusive Greek elections have sparked new fears in the euro zone. The elections have clearly indicated that Greece doesn’t want to  follow the path of financial rigor that the European Union wants them to. From The Wall Street Journal: If Greece is unable to form a government that can abide by [...]

Investors demand Portugal higher interest rates in latest debt auction

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LISBON, Portugal – Portugal has raised the 1.5 billion euros ($1.98 billion) it wanted in a short-term debt auction but investors demanded higher interest rates on the loan in a reminder that the country’s debt problems remain a long way from being solved. Portugal needed a 78 billion euro bailout rescue a year ago when [...]

Spain prepares to host ECB meeting

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LA JUNQUERA, Spain – Spain has temporarily restored border checks in its northeast and at two major airports in a bid to stop protesters entering the country ahead of a European Central Bank meeting in Barcelona. The Catalan regional capital is to host an ECB governing council assembly on May 3 as the financial crisis [...]

Lending to remain subdued says ECB head

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FRANKFURT, Germany – European Central Bank head Mario Draghi says commercial bank lending to companies is likely to remain subdued “for some time” because of a slowing eurozone economy. Draghi said the ECB put money in the hands of banks through its 1 trillion euros ($1.32 trillion) loans to the financial system in December and [...]

French yield edges up in bond auction

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PARIS – France saw its borrowing costs edge up in bond auctions that sold 10.5 billion euros ($13.8 billion) in medium-term debt. The yield, or interest rate, on a five-year bond rose to 1.83 percent from 1.78 percent when it was last issued. No comparisons were available for the other bonds issued Thursday. The amount [...]

Investors show healthy appetite for Spanish bonds

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MADRID – Investors showed a healthy appetite for Spanish debt but demanded a higher premium in an auction that was a key test of confidence in the government’s ability to get a handle on its debts as its economy enters a recession. The Treasury auctioned 2.54 billion euros ($3.33 billion) in 10-year bonds and notes [...]

Spain’s bond yield shoots past 6% threshold

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MADRID – The yield on Spain’s 10-year government bonds shot past the 6 percent mark on Monday, as fears rose that the country may eventually need a financial bailout. The rate jumped to 6.10 percent on the secondary market, according to financial data provider FactSet. It had closed at 5.93 percent Friday after a week [...]

Investors demand Italy higher returns in latest bond auction

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MILAN – Italy’s borrowing costs are continuing to rise amid renewed uncertainty about its debt load and growth prospects. Italy easily sold 4.88 billion euros ($6.41 billion) in bonds in four denominations on Thursday, but investors demanded higher returns. The Treasury sold 2.88 billion euros in three-year bonds at a yield of 3.89 percent, up [...]

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