A draft document on the bank aid plan has been obtained by Bloomberg. Banks will receive the money once they have adopted restructuring plans, unless the Bank of Spain requests disbursements sooner. Any guess on how long the 10B euro ‘prudential cushion’ will last?
So far equities are being treated as too big to fail by the markets.
Always another C.B. scheme to prop things up.
Bonds keep saying otherwise.
Real world economic data is consistently falling short of real progress. If anything things are deteriorating.
Waiting for the penny to fall. Just do not know what will be the trigger.