Spanish yields hit 15-year record

Note: This section contains information in English only.
Source: Bloomberg
Spanish borrowing costs for 10-years sovereign bonds reached a 15-year record high on Tuesday after Fitch Ratings forecast that country's PM Mariano Rajoy will fail to meet budget deficit goals that he set earlier. Yield for Spain's benchmark bond hit 6.83% yesterday, the highest level since 1997. Surging yields raise concerns that possible Spanish and Italian bailout would exhaust EU financial resources. 
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Wed, 13 Jun 2012 07:11:43 GMT

France to revise its growth forecasts

The French government officials are revising growth forecasts for the next year. According to the Bank of France, the economy of France is predicted to shrink in the Q2 for the first time since 2009. Cooling growth would build up pressure on French President Francois Hollande to meet budget commitments. Mr. Hollande promised to reduce the budget deficit to 3%

Wed, 13 Jun 2012 07:00:54 GMT

Eurozone needs common banking union

The ECB reiterated that common banking union development is critical to prop up the Eurozone's financial system, even though Germany's central bank said that such a decision might be risky and "premature". Vitor Constancio, the ECB's official, also claimed that the ECB should exercise power of monitoring European banks, as the bank has required knowledge and institutional resources to carry

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