Instead, Madrid has begged for all sorts of back-door support: bond-buying by the ECB, direct recaps for its banks, a quasi-ECB rescue for banks. Germany and the ECB aren’t likely to allow these unless Greece blows. But, at that point, Spain will be in a terrible crisis.
BERLIN (AP) — Germany's finance minister is rejecting talk of a possible application from Spain for the eurozone's bailout fund to buy the struggling country's bonds, a newspaper reported Saturday. This week, European Central Bank h... Read Post
Russia’s central bank said its bailout of Trust Bank – the first major lender to fail as a result of the sharp decline in the ruble – would cost about $2.5 billion, far more than previously anticipated. Read Post