LONDON — Cyprus’ bailout deal is the fifth agreed on so far in the 17-strong group of European Union countries that use the euro since the debt crisis began in late 2009.
Here’s a look at the rescue programs:
The head of Austria's central bank, Ewald Nowotny, and German finance minister Wolfgang Schaeuble have both made statements over this weekend that affect bailout options for Spain.
In particular, Nowotny says Spain must seek help before ECB buys bonds.
Spain would have to apply for a rescue package before qualifying for inclusion in the European Central Bank's plan to buy debt of struggling euro zone members, ECB policymaker Ewald Nowotny said.
In response to Spain Needs to Debate Leaving the Euro; Tooth Fairy Economics I received a nice email from Michael Pettis confirming my translation was correct. He also attached the original article in English.Michael Writes ...Thank's Mish. I am attaching the original, but the translations you got were basically right and covered the main points, which you understand anyway.
MADRID (Reuters) - Spain's overspending regions have enjoyed a holiday from the headlines, content to let debt-laden banks take most of the blame for the Mediterranean country's slide into crisis. But most of the regions, which were largely responsible for Spain missing its deficit goals by a wide margin last year, could soon become an even bigger problem for the country and its banks if sovereign borrowing costs do not fall. ...
I seriously do not understand this "Bad Bank" concept. The idea that you can take bad assets and shift them off to the side and it will make things better seems ludicrous.If for some reason you disagree, please note that Spain now needs a "Bad Bank" for "Bad Banks". They call this proposal "Midas N + 1".
Spain's overspending regions have enjoyed a holiday from the headlines, content to let debt-laden banks take most of the blame for the Mediterranean country's slide into crisis. But most of the regions, ...
An official denial is in: Slovenia Rules Out Bailout. Here is my interpretation: "A bailout is already in the works, only the date of the announcement is uncertain".
Slovenia insisted on Tuesday that it could avoid an international bailout as the Organisation for Economic Co-operation and Development warned Ljubljana to tackle more rapidly a “severe banking crisis” whose costs it might have underestimated.
The European Union this week publishes results of stress tests on Europe's embattled banking sector amid a dangerous phase in the eurozone debt crisis that threatens to engulf Italy and Spain.The European Banking Authority, the EU's London-based regulator for the financial sector, has carried out assessments on 91 banks representing 65 percent of the sector and will publish its findings at 1600 GMT on Friday.