Felipe González, the country’s elder statesman, said: “We’re in a situation of total emergency, the worst crisis we have ever lived through.”
Global financial markets lurched yesterday at the spectre of the eurozone’s fourth biggest economy being locked out of international capital markets and being unable to fund itself.
Spanish borrowing costs soared, while the Madrid stock market fell 2.6 per cent, the euro sank to a 22-month low against the dollar and the price of Brent crude dropped 2 per cent.
Meanwhile, global investors fled to “safe havens” sending UK bonds to another low. The FTSE 100, however, dropped 1.7 per cent, along with European and American stockmarkets.
The rout on global markets paused briefly around midday when the European Commission published a report calling for radical new support for “sinner states” across the eurozone.
The Telegraph
No comments:
Post a Comment