Posted by windyjazz on 19th of Apr 2012 at 07:49 am
This must be what sent the euro down...timing looks right.
BRUSSELS |
Thu Apr 19, 2012 7:16am EDT
(Reuters) - The European Union has no plans to activate its
emergency funds to recapitalize Spanish bank and Spain had no need
to appeal for funds to do so, the European Commission said on
Thursday.
"There is no plan to activate the EFSF or the ESM to support or
recapitalize the Spanish banks," Commission spokesman Olivier
Bailly said in answer to a question, referring to its rescue funds,
the European Financial Stability Facility and its successor, the
European Stability Mechanism.
The spokesman told a regular briefing the EU would only activate
funds for any country if bank recapitalization was not possible on
the markets and if a government did not have the means to do so
itself.
"This is not the case for Spain. This is not necessary for Spain,
we believe," Bailly said.
Posted by windyjazz on 19th of Apr 2012 at 09:36 am
the time span of move down was much more volatile... 100pips
from top of Spanish bond auction to end of French downgrade rumor
in 3 1/2 hrs....with the rumor taking it down 50 pips in a 1/2
hr.
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Euro dumping !
Posted by windyjazz on 19th of Apr 2012 at 07:49 am
This must be what sent the euro down...timing looks right.
BRUSSELS | Thu Apr 19, 2012 7:16am EDT
(Reuters) - The European Union has no plans to activate its emergency funds to recapitalize Spanish bank and Spain had no need to appeal for funds to do so, the European Commission said on Thursday.
"There is no plan to activate the EFSF or the ESM to support or recapitalize the Spanish banks," Commission spokesman Olivier Bailly said in answer to a question, referring to its rescue funds, the European Financial Stability Facility and its successor, the European Stability Mechanism.
The spokesman told a regular briefing the EU would only activate funds for any country if bank recapitalization was not possible on the markets and if a government did not have the means to do so itself.
"This is not the case for Spain. This is not necessary for Spain, we believe," Bailly said.
They said weeks ago they
Posted by admagazu on 19th of Apr 2012 at 09:26 am
They said weeks ago they would intervene If/when needed.. what else do you need to know....
Actually, the move down yesterday
Posted by frtaylor on 19th of Apr 2012 at 09:08 am
Actually, the move down yesterday pre-market was bigger than today's move. Do you think today's move is more significant in some way?
Only that
Posted by windyjazz on 19th of Apr 2012 at 09:36 am
the time span of move down was much more volatile... 100pips from top of Spanish bond auction to end of French downgrade rumor in 3 1/2 hrs....with the rumor taking it down 50 pips in a 1/2 hr.