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the spanish prime minister denies any need for eu help.
the german chanceller pushes spain to accept protection from the eu rescue funds.
spain rejecting a bailout at this time because it would send a negative signal to the markets pushing yields even higher (today 6.7 percent). portugal and ireland had to move under eu protection when yields reached 6.7 percent.
the spanish pm wants the eu to inject money into the spanish banks directly. this is not possible legally. any legal change will require long political processes.
in the last weeks many thirld world central banks sold off their euro reserves in order to protect their own currencies.
as expected the eur moved to the pivot point just below 1.24 then turned again. my signals point up but i do not trust it because of the news.
Can you help answer these questions from other members on NexusFi?
