Spanish Request for Financial Aid Now in November?

By: Ian Campbell | Mon, Oct 15, 2012
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An article published Saturday reports that discussions with Spain over financial aid may be postponed to November, and might be dealt with concurrently with a revised loan program for Greece and a bailout for Cyprus.

It strikes me that valid concerns include:

Let's hope that November, and the time it will take to bring negotiations over Spain and Greece (Cyprus being rather incidental), does not bring things to the 'too late' position.

Also see Spain says investors' mood improving, liquidity strong that reports Spain (presumably Spain's Economy Minister since he is the person quoted in the article) said:

"investor sentiment over its fiscal situation was improving, leaving the country in a strong position to meet its financial obligations through year-end".

That hardly is a statement to engender confidence in anyone who might be directly or indirectly impacted from a personal financial point of view (which basically might mean most world investors) if Spain's economy continues to deteriorate. Think of a man on oxygen who says "I'm in good shape, I have a two and one-half month supply of oxygen, but 'who knows' after that".

Topical Reference: Spanish aid request from euro zone seen in November, from Reuters, Jan Strupczewski and Julien Toyer, October 13, 2012 - reading time 3 minutes. Also see Spain says investors' mood improving, liquidity strong, from Fox Business, from Reuters, Julien Toyer, October 13, 2012 - reading time 2 minutes.

 


 

Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
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Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at icampbell@srddi.com.
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