Tag: borrowing costs

Global stocks down on euro zone and recession fears

Global stocks down on euro zone and recession fears

Global stocks have fallen to a one-week low today with banks among the worst performers. Concerns that the euro zone may not be able to contain its debt crisis, together with fears of the US slipping back into recession sent European shares falling this morning. Deutsche Bank lost 7.3% in early trading today, Societe Generale [...]

September 5, 2011 | 0 Comments More
Moody’s warns of Spanish downgrade

Moody’s warns of Spanish downgrade

July 29, 2011 | 0 Comments More
IMF: Action must be taken to prevent debt crisis

IMF: Action must be taken to prevent debt crisis

The International Monetary Fund (IMF) has warned euro zone policymakers to take immediate action to prevent the debt crisis spreading outside Europe. The warning comes as Spain’s borrowing costs rose to a 9-year high today as fears continue to grow over the debt crisis in the euro zone. There are fears that Spain, which is [...]

July 19, 2011 | 0 Comments More
Spain’s borrowing costs up on debt crisis worries

Spain’s borrowing costs up on debt crisis worries

July 19, 2011 | 0 Comments More
IMF: Italy must introduce spending cuts

IMF: Italy must introduce spending cuts

The International Monetary Fund (IMF) is urging Italy to introduce austerity measures to lower the country’s debt. Its warning comes as there are fears that the euro zone’s third largest economy could be dragged into the euro zone’s debt crisis as it has the second highest sovereign debt ratio in the region. As a result, [...]

July 13, 2011 | 0 Comments More
Portugal bailout talks to commence today

Portugal bailout talks to commence today

Officials from the European Commission, the European Central Bank and the International Monetary Fund (IMF) are to meet in Lisbon today to discuss the terms of Portugal’s bailout. The bailout represents the third in the euro zone after Greece and Ireland, and will be finalised by mid-May. The €80 billion (£70 billion) rescue package comes [...]

April 18, 2011 | 0 Comments More
Portugal in bailout talks

Portugal in bailout talks

After months of speculation, it has been announced that Portugal will seek financial help. EU finance ministers are set to meet in Hungary this week when the bailout will be discussed. Portuguese borrowing costs rose to more than 10% this week – the first time since the introduction of the euro. A surge in borrowing [...]

April 7, 2011 | 0 Comments More
Moody’s downgrades Portuguese banks prior to debt sale

Moody’s downgrades Portuguese banks prior to debt sale

Portugal is looking to sell as much as €1 billion in short-term Government debt today - in a bid to help service its debts. The Government is expected to be able to issue 6 and 12-month treasury bills but the debt auction comes after Moody’s downgraded the credit ratings of seven Portuguese banks citing weakened [...]

April 6, 2011 | 0 Comments More
Moody’s downgrades Portuguese Government debt

Moody’s downgrades Portuguese Government debt

Moody’s Investors Service has today downgraded Portugal’s debt rating, for the second time in less than a month, by one notch to Baa1 from A3. Moody’s also warned that a further downgrade is possible as a bailout becomes increasingly likely for the debt-laden country. It said the downgrade was “driven primarily by increased political, budgetary [...]

April 5, 2011 | 0 Comments More
Portugal bailout pressures continue to mount

Portugal bailout pressures continue to mount

Speculation is mounting again that Portugal may need financial assistance after a rise in bond yields. Yields on Portuguese 10-year bonds climbed to 8.17% yesterday - a record high after last week’s rise to 8%. The country’s borrowing costs have risen in recent months – mimicking what happened in Greece and Ireland – just before [...]

March 29, 2011 | 0 Comments More
Moody’s cut Portugal sovereign debt rating

Moody’s cut Portugal sovereign debt rating

Portugal has had its sovereign debt rating downgraded by Moody’s by two notches to A3 from A1 and kept the rating on a negative outlook - suggesting further downgrades are possible. According to the ratings agency, it might have to downgrade again as a result of high borrowing costs and the difficulty of meeting fiscal [...]

March 16, 2011 | 0 Comments More
Moody’s warns Portugal rating may be cut

Moody’s warns Portugal rating may be cut

Moody’s Investor Service has today put Portugal under review, warning that it may cut its rating by one or two notches. Investors have been nervous over recent weeks as Portugal’s borrowing costs surge and there have been suggestions that it might be forced to seek an emergency bailout, like Greece and Ireland. However, the country’s [...]

December 21, 2010 | 0 Comments More
Moody’s warns Spanish rating may be cut

Moody’s warns Spanish rating may be cut

Ratings agency Moody’s today announced it has put Spanish bonds on watch for a possible downgrade due to its high funding requirements. However, the agency said it does not expect Spain to turn to the EU fund for a bailout. In a statement, Moody’s lead analyst on Spain Kathrin Muehlbronner, said: “Moody’s does not believe [...]

December 15, 2010 | 0 Comments More
Spain will not follow Greece and Ireland and seek bailout

Spain will not follow Greece and Ireland and seek bailout

Spain’s finance minister has insisted that the country will not follow Greece and Ireland and seek a bailout. In a newspaper interview published today, Elena Salgado said: “Our fiscal adjustment is on track… we have done all the things that we had to do with our financial sector.” She added that Spain is “absolutely not” [...]

December 6, 2010 | 0 Comments More
Spanish borrowing costs surge

Spanish borrowing costs surge

Fears of contagion were raised again today after Spain’s borrowing costs surged to 5.330% from 5.148% - an eight-year high. Markets are nervous about the current euro zone situation and fears are growing that Spain and Portugal could be next in line for a bailout as yields on 10-year bonds rise to dangerous levels – [...]

November 29, 2010 | 0 Comments More
Talks of Irish bailout denied

Talks of Irish bailout denied

Ireland’s Government continues to reject claims that it is seeking emergency financial support via the EU rescue fund - established by European Governments and the International Monetary Fund after the Greek debt crisis earlier this year. There have been reports over the weekend that Irish officials have already held discussions with the European Financial Stability [...]

November 14, 2010 | 0 Comments More
Market jitters as Ireland debt crisis worsens

Market jitters as Ireland debt crisis worsens

The former “Celtic Tiger” economy is sending jitters throughout the euro zone today after borrowing costs surged to record highs. Rumours of financial aid for the economy increased and come just months after Greece’s debt crisis. However, claims that Ireland will have to turn to the EU rescue fund have been denied but developments are [...]

November 11, 2010 | 0 Comments More