spain

Moody's downgraded its debt ratings of 30 Spanish banks on Thursday by one or more notches, citing a week outlook on the country. The cut is another blow to Europe's struggling banks, especially in light of Spain's sovereign debt rating cut on March 10. According to a Reuters report, "Spain's...

In what is sure to be yet another blow to investor confidence, Moody's Investors Service downgraded the long-term credit rating of Portugal's government bonds two levels from the previous rating of A1 down to the new rating of A3. Along with the lower rating, Moody's gave Portugal a negative...

Eurozone leaders may be close to reaching an agreement on joint measures that member countries will take with the aim of increasing the the Eurozone's competitiveness and protecting the euro. The list of measures under consideration include reducing labor taxes, linking retirement age to life...

Most experienced globetrotters have come across a copy of Rick Steves' Europe Through the Back Door in one of their travels. Appealing to budget-conscious students and backpackers, Steves' book gives tips on how to avoid many of the expensive pitfalls of foreign travel and offers cheaper “backdoor...

The will of the Spanish to hold to their austerity plan has begun to be questioned. The nation's finance minister, Elena Salgado, will present her budget for the next year shortly. Capital markets investors do not believe that the nation's austerity measures are adequate. Spain's unemployment is...

The Euro is continuing to rebound against the dollar, following the lead of European markets and a strong bond sale for Spain. Despite trading at a four-year low of $1.18 last week, the Euro has made a considerable reversal, trading at $1.24 earlier this morning. Recent gains could be attributed...

CDS Spreads, i.e. Credit Default Swap insurance, which is used to hedge positions in government bonds, is rising across the Eurozone this morning. Here are the six most notable rises: 1. Portugal 340/370 vs yesterday close of 275 bps 2. Italy 152/160 vs yesterday close of 134 bps 3. Ireland 205/220...