EU throws Spain 2 lifelines

by Blogburger on June 1, 2012

The European Commission threw Spain, the latest frontline in Europe’s debt war, two potential lifelines on Wednesday, offering more time to reduce its budget deficit and direct aid from a eurozone rescue fund to recapitalise distressed banks. Spanish government borrowing costs lurched higher and the Madrid stock market hit a nine-year low with investors rattled by the parlous state of its banking sector fleeing to the relative haven of German bonds. EU Economic and Monetary Affairs Commissioner Olli Rehn said Brussels was ready to give…


WN.com – International English News

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