THE REAL ECONOMIST: SPAIN JOINS IN EUROPE'S WOES, EU TO WORK OUT A GREEK DEBT DEAL

Thursday, April 29, 2010

SPAIN JOINS IN EUROPE'S WOES, EU TO WORK OUT A GREEK DEBT DEAL

* SPAIN'S DEBT DOWNGRADED
* EU CHIEF SAYS WORKING ON GREEK DEBT DEAL BAILOUT BUT NO ASSURANCES GIVEN
Astoria, New York
More jitters for Europeans after a downgrade of Spain's debt. The country joins Portugal and Greece in Europe's credit crisis. Today, EU chief Herman Van Rompuy has said that his council is working on solving the Greek financial crisis but cannot assure on that. The deal should close in the next few days. He also is enforcing a 2 month ban restricting short sales on the Athens Stock Exchange. This was good enough to send European shares higher today. US shares have rallied yesterday from a decline on Tuesday that took the Dow below 11,000. Yesterday's close saw the Dow above 11 k again. The euro is a bit higher today above 1.32 against the dollar.

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Thursday, April 29, 2010

SPAIN JOINS IN EUROPE'S WOES, EU TO WORK OUT A GREEK DEBT DEAL

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