Wednesday, 9 May 2012

Greece and Spain in the news

The threat has been made to Greece: scrap austerity and there will be no future bailout payments from the IMF and the European bailout provision.

The EC is stating that the fiscal pact is not open to re-negotiation. A shot across the bows of the new French president.  Whatever happened to the concept of a democratic mandate?

Spain's borrowing cost have touched 6% as the markets fret at the instability of Spanish banks caused by the crash in property values in that country.



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