Thursday, August 2, 2012
Waiting for Spain to call for help?
"With its key German member dissenting, the European Central Bank took a heavily conditioned step on Thursday towards a new round of bond buying to drag down Spanish and Italian borrowing costs, but said euro zone governments must act first. ECB President Mario Draghi indicated any intervention would come at the earliest in September once governments had activated their rescue funds to buy bonds, and the countries at risk had requested assistance and accepted tough conditions". Those hopeless property loans coming home to roost?