Sign Up to Receive an Email Alert when Flash Headlines are Published
Europe Update: Spain Rumored to Ask For Aid
European stock markets as well as stock futures in the U.S. shot higher overnight on rumors that the the Spanish government is going to hold an unscheduled press conference today in which it will ask for official support from the EFSF.
Recall that stocks dove yesterday when Spanish PM Rajoy said that his country would not make additional reforms and did not need assistance. The key here is if Spain does not officially ask for assistance then the EU/ECB plans cannot be implemented.
It is also worth noting that Spanish Prime Minister Rajoy is already scheduled to hold a press conference early this afternoon in Spain. His office said on Thursday that the PM "will give a press conference after the cabinet meeting to take stock of the political course" of his government, which has been in power since December.
Thus far this morning at the press conference, Rajoy has stated that “interest rates are rising at spectacular pace” and that his country must “solve liquidity problems.”
The PM also stated that “we will lose credibility if we don’t cut our deficit” adding “we must try to spend in line with income.”
However, so far at least there has been no official request for aid. Stay tuned.
Wondering what our short-term trading strategy is at the present time? Take a Free Trial of the All-NEW Daily Decision (the new “adaptive” system is now more active and more sensitive to trend changes) to find out. Even if you've taken a free trial of the Daily Decision in the past, you owe it to yourself to check out the new system.
Other stories on Europe to review:
-
Draghi Fails to Deliver
-
ECB Leaves Rates Unchanged
-
Eurozone PMI's Confirm Ongoing Contraction
-
ECB To Do 'Whatever It Takes' to Save Euro
-
Spain Enters Recession in Q2
-
Industrial Production Down -2.8%
-
EU to Jumpstart Loans to Spanish Banks
-
Germany's Industrial Production Up in June
-
Bank of England Launches 3rd Round of QE
- EU Leaders Announce Measures To Ease Crisis
iShares Spain - Last 12 Month
Remember, you are in control your email alerts! You can receive alerts for more than 25 free research report alerts including: The “10.0” Report, The Insiders Report, ETF Leaders Report, and The Focus List.
