Spain’s increasing debt mountain.

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This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of angie angie 2 years, 11 months ago.

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  • #57903
    Profile photo of logan
    logan
    Participant

    Spain treasury announced today it will issue about €242bn of debt this year as it plugs a still-hefty budget deficit, as it continues to service its mounting government debt pile, currently close to 94% of GDP

    The Spanish treasury expects €133bn of the debt issued this year to be medium- and long-term bonds.

    Recent improvements in unemployment, PMI, exports and increased services activity had led the 10 bond yield to fall slightly. All this optimism could be dashed however if these trends are not sustained.

    This new debt will bring the countries debt mountain to and possibly beyond 100% of it’s GDP. 😯

    http://uk.reuters.com/article/2013/09/30/uk-spain-debt-economy-idUKBRE98T0G320130930

  • #118980
    Profile photo of angie
    angie
    Spectator

    Not onlyGovernment debt logan, but Spanish Banks raised their holding of Spanish debt from 166 bn euros to 299 bn euros in November up 81% 🙄

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