Spain Auction Beats Target
Although yields were at a high not seen since November, Spain exceeded its target at a Thursday bond sale, easing fears that financial markets were closed to the country.
G7 Sets Crisis Conference Call After Soros Warning
G7 leaders planned a conference call Tuesday ahead of a scheduled mid-June summit meeting, after a weekend warning by the billionaire George Soros that Europe had just three months to salvage the euro.
Spain to Raise Taxes, Cut Spending
Spain’s new Prime Minister Mariano Rajoy is taking tough steps to combat his country’s debt crisis, and has announced that while taxes will rise substantially, spending will be cut even more.