No Bank Bondholder Left Behind In Spain

By Pater Tenebrarum: Contraction 'Worse than Expected'

The Spanish hit parade keep right on rolling. Courtesy of Google Translate, please consider a trio of articles forwarded by my friend Bran who lives in Spain. Madrid Rejects Regional Budgets Representing 32.5% of GDP

Citi chief economist Willem Buiter has been one of the skeptics towards official policy over the course of the Eurozone crisis.

Via Pater Tenebrarum of Acting-Man blog, As Der Spiegel reports, capital flight from Southern Europe has stopped and even slightly reversed in recent months. This is a belated reaction – so it is surmised – to the 'OMT' announcement effect.

European stock markets rose and the euro slipped against the dollar Friday ahead of crucial weekend elections in Greece and after Britain unveiled fresh stimulus measures, boosting bank shares.Approaching midday in London the FTSE 100 index of leading companies was up 0.44 percent at 5,491.01 points, Frankfurt's DAX 30 climbed 0.84 percent to 6,190.64 points and in Paris the CAC 40 won 1.38 percent to 3,074.34.Madrid's IBEX 35 jumped 1.10 percent.

German Chancellor Angela Merkel has worked out a deal with Spain to rescue its banks. Global equity markets and commodities, especially gold and silver, have cheered the news. However, the bold market has let out a big yawn. The yield on Spanish 10-year treasuries dropped less than 3 basis points to 6.281%, hardly a sustainable rate. Please consider Germany finalizing face-saving aid deal for Spain

Madrid stocks rallied, as other major European markets diverged on Thursday, after a successful Spanish bond sale eased tensions over eurozone before a key ECB interest rate decision.Madrid's IBEX 35 jumped 1.88 percent to stand at 10,290.80 points in late morning trade.London's FTSE 100 fell 0.67 percent to 6,010.23 points, Frankfurt's DAX 30 dipped 0.17 percent to 7,056.95 points and in Paris the CAC 40 gained 0.22 percent to 3,953.71.