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.
Greece's Fringe Parties Surge Amid Bailout Ire (WSJ) ECB fails to stem reduction in lending (FT) More Twists for Spanish Banks (WSJ) Banks use ECB cash to buy bonds, lend less to firms (IFR) UK still long way off pre-crisis growth –... Read Post
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
MADRID (AP) — Finance ministers from the 17 countries that use the euro will discuss a potential rescue for Spain on Saturday, a eurozone official said, as pressure grows on Madrid to sort out its troubled banks even if it means see... Read Post