Spain might recapitalize Bankia using debt

Note: This section contains information in English only.
Source: Reuters
After Bankia's request for rescue funding last week, government announced it might recapitalize the bank using government bonds. Rescue funding required is around EUR 19b. Bankia could use government debt papers as collateral getting money from European central Bank forcing ECB to get involved in restructurisation of Span's banking sector. This would be the biggest bank rescue in Spain's history. Specialists speculate that such move might force Spain to seek international bailout itself.  
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Mon, 28 May 2012 10:23:59 GMT

Spain-German spread above 500 basis points

Spain's intentions to recapitalize Bankia using sovereign debt triggered investors doubts and drove demand for Spanish bonds down. For the first time after May 15 the Spain-German 10 year maturity bond yield spread exceeded 500 basis points. At 8:00 GMT yield for Spanish securities reached 6.4% in comparison to 1.38% of German. 

Mon, 28 May 2012 10:01:58 GMT

UK home prices climb lifted by London market

UK housing prices surged for a third consecutive month in May, fuelled by value increase in London, Hometrack reported on Monday. Home value for the UK soared 0.2% compared to previous month while prices in London climbed 0.6%. Nevertheless, Hometrack predicts the price increase in nation's property market for the year will be limited due to persisting Euro Zone debt crisis. 

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