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Money flies out of Spain, regions pressured


Spaniards alarmed by the dire state of their banks are squirreling money abroad at the fastest rate since records began, figures showed on Thursday, and the credit ratings of eight regions were cut.

Senh: I guess they're following the Greeks.


Irish "yes" to give euro zone scant respite

Ireland was poised to announce a "yes" vote to a European budget discipline treaty on Friday, but the referendum result brings little respite to a euro zone tormented by doubts over Greece's future in the currency bloc and Spain's wobbly banks.


Spanish debt costs spiral as crisis deepens

Spanish Debt

Spanish 10-year borrowing costs neared the 7 percent danger level and Bankia shares hit record lows on Monday after the government, struggling to sort out its finances, proposed putting sovereign debt into the struggling lender.


Lack of new cash disappoints in Spain bank reform

Spain's government tried to plug a gaping hole in the country's banking system on Friday, but the fourth such attempt to tackle the fallout of a property crash fell short of expectations.


Why Spain’s now threatening to drag down Europe

Spain Debt

Just when we thought the euro crisis had subsided for a bit, Spain is bursting back up as a trouble spot. On Wednesday, Prime Minister Mariano Rajoy said the country is “facing an economic situation of extreme difficulty.” Spain is struggling to borrow money and can’t hit its deficit targets.


Protests Continue as Spain Goes to the Polls

The demonstrations have overshadowed regional and municipal elections that were expected to result in a defeat for the governing Socialist Party.


Tens of Thousands in Spain Defy Protest Ban

Tens of Thousands in Spain Defy Protest Ban

Fueling the demonstrators’ anger is the perceived failure by politicians to alleviate the hardships imposed on a struggling population by a jobless rate of 21 percent.


Portugal faces rating cut, Spanish debt costs rise

Portugal was put on notice on Tuesday that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.


EU ministers talk austerity, Spanish strike over cuts

EU ministers talk austerity, Spanish strike over cuts

European Union finance ministers tried to broaden efforts to contain the region's debt crisis on Tuesday and Spanish public sector workers protested over government cutbacks.


Downgrade of Spain Pushes Markets Lower

Downgrade of Spain Pushes Markets Lower

Fitch cut Spain’s credit rating, saying that the country’s debt will probably weigh on the country’s growth.


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