Debt crisis: live

Tue, 05/08/2012 - 03:14 EDT - Telegraph

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A new eurozone crisis looms as Greece's leftist forces attempt to form a government opposed to the country's bailout, while Spain signals it is ready to rescue ailing banks and Japan urges France to stick to reforms.

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After Cyprus crisis, worries are growing about bad loans in this other tiny European country
Slovenia’s six-day-old government is being urged to prevent the nation becoming the euro region’s next bailout battleground. Prime Minister Alenka Bratusek’s Cabinet must quickly carry out a plan to revamp the country’s ailing lenders, the central bank said yesterday. The former Yugoslav nation needs about 3-billion euros (US$3.9-billion) of funding this year, while banks need 1-billion euros of fresh capital, the International Monetary Fund said last week.
Official Denial Signals Spanish Bailout Imminent; Dreadful Result in Spanish Bond Auction, 6.975% Yield on 10-Year Debt; Merkel says "ECB Cannot Solve Euro Crisis"
The ECB stepped into the fray once again today but the the results of the Spanish debt auction today speak for themselves. The rate on 10-year bonds is close to touching the 7% mark. The BBC reports on the "Dreadful Result" The Spanish government sold 3.56bn euros (£3.04bn; $4.79bn) worth of bonds out of a maximum target of 4bn euros. The auction attracted bids worth 1.5 times the securities offered. The so-called bid-to-cover ratio was down from 1.8 in October.
Spain bank could get bailout money within weeks
Market relief rally on Spain rescue fades
George Soros urges Angela Merkel to consider quitting euro
George Soros, the billionaire speculator best known as “the man who broke the Bank of England” in 1992, has launched a stinging critique of Germany’s role in the euro crisis and suggested the single currency’s prospects would be improved if its most dominant member were to quit, reports The Guardian.
Asia stocks down after Spain asks for bank bailout
Spain to demand banks recognize more losses
MADRID (Reuters) - Spain will demand ban
Spain and Slovenia told to reform economies now or risk financial crisis
Spanish 10-Year Bond Yield Hits 5.99% as Official Denials in Spain Escalate; "Bailout" on the Way
10-Year Spanish Government Bond Yield Official Denials in Spain Escalate
Merkel Wants Higher Taxes, Deeper Cuts, Faster Reforms; S&P Says Eurozone Policies Fall Short , France at Risk of Further Downgrades
In the wake of S&P debt downgrades, Merkel vows faster eurozone reforms. European leaders promised on Saturday to speed up plans to strengthen spending rules and get a permanent bailout fund up and running as soon as possible, a day after U.S. agency S&P cut the ratings of several euro zone countries' creditworthiness.

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Debt crisis: live

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