Despite the startling rise in unemployment claims earlier today, Spain will remain on an austerity path, the budget minister says.
Having signed the EU fiscal compact, they have no other choice. Spain expects unemployment to rise above 24% this year and the economy to shrink 1.7%.
EUR/USD consolidates just above 1.3200 amid vague whispers that there might be a 1.3200/1.3500 DNT (double no-touch) option in play.
