The events over the last week have taken Spain’s PM Mariano Rajoy to the edge of the abyss.
In view of the deflation that is coming to the deficit countries, having German inflation rise above average is as inevitable as it is useless.
I continue to believe that longer dated Spanish and Italian bonds are poised for a significant sell-off.
The implications of the present situation in Spain could be more far reaching than is currently anticipated and the contagion it represents could lead to a fundamental change in the world’s monetary order.
Interview with Santiago Niño-Becerra, professor of Economic Structure at the University Ramon Llull in Barcelona.
Spanish Prime Minister Rajoy and Finance Minister De Guindos warn about trouble ahead…
Unless Rajoy’s bet to go “all in” on austerity is backed by Brussels and Frankfurt, Spain may not end up doing “something similar” to Portugal, but Greece.