Spain's premier calls for ideas how to develop a "bad bank"

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Source: Bloomberg
© Scanpix/AFP

Spanish premier Mariano Rajoy has required proposals from academics how to make a "bad bank". Proposals are expected to outline mechanisms to purchase damaged assets (e.g. real estate) from commercial banks at reduced prices. Spain needs about $133 bn from EFSF or IMF to provide asset transfer to bad bank.     

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Fri, 25 Nov 2011 13:56:37 GMT

Euro falls on no solutions after the Europe's leaders meeting

The euro fell by 0.4% against US dollar to $1.3267, hitting seven-week low. Investors lose confidence in euro and euro-based assets after no certain solutions to the spreading debt crisis coming from the meeting of the EU leaders. The euro also was down against British pound by 0.07%, currently EUR/GBP is traded at 0.8608.

Fri, 25 Nov 2011 10:25:38 GMT

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