Note how ‘currency users’ are limited to relatively low levels of debt by markets: Valencia’s total outstanding debt at the end of 2011 was EUR20.76
Looks like it was at least the Spanish banks that got the nod to buy their govt’s bonds when the LTRO was announced. Problem is
Been moving up steadily all day and since they announced they were ok missing their deficit targets a few days ago. > > (email exchange) >
[Skip to the end] Highlights Italian Unemployment Rate Rises for First Time Since 2003 Euro Central bankers think that’s a good thing for their fight