Who Reigns in Spain

Spanish banking stocks fell in July after Standard & Poor’s Ratings Services and Fitch Ratings downgraded the country’s leading lenders, citing dimming economic growth prospects, a depressed property market and turbulence in capital markets.In reports issued later, the two credit rating agencies said they are keeping the negative outlook on all the banks.

Mr (has) Bean at the G20, ex Spanish P.M. Jose Luis Zapatero

IMF chief Christine Lagarde, the new woman in P.M. Mariano Rajoy’s life.

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Spain has become the new poster child for what ails the EU periphery, with its 10-year bond rate surpassing even Italy’s in a very short timespan. Looking at the details, that shouldn’t be all that surprising.

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