No bailout in the works for Spain but Euro nations are ready to act fast on Spain, Luxembourg’s Finance ministers says in a Bloomberg interview.
“We are ready to act at any moment”, Frieden says.
No they’re not. The euro area is not able to do anything quickly, and therein lies the problem.
Spanish yields are at the highs of the day despite the supportive comments. 10s trade at a 7.635% yield.
