Don't believe the doom&gloom...the euro is well supported! If E/U can't close below 1.2880, you'll see a test of 1.3100+ again!
Spain Bailout Caution Grows as Business Lobby Backs Rajoy
Spain’s biggest business lobby is getting as cautious as Mariano Rajoy’s government on a possible bailout request because of concern how stringent conditions might be to trigger European Central Bank bond-buying. A rescue “could impose a criminal pace of reduction in public spending,” Alberto Nadal, vice secretary-general of CEOE, Spain’s main business group, said in an interview. The group’s newfound skepticism contrasts with their earlier support for a request following the ECB’s unveiling of its bond-buying program in September after President Mario Draghi committed to do “what it takes” to save the euro. Rajoy has refrained ... (full story)
- Posted: Dec 10, 2012 12:37pm
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 1,002