Spanish prime minister hails £80bn IMF bailout as a ‘victory for the euro’… But admits economic misery will get worse

http://www.dailymail.co.uk/news/article-2156765/Spain-ask-EU-bailout-today-leaders-try-prevent-collapse-single-currency.html Decision taken following discussion about eurozone’s struggling economy Spanish minister said aid will not come with austerity conditions attached Move comes a day after Spain’s credit rating was downgraded David Cameron has said UK will not contribute funds to eurozone bailouts Euro falls and forecasters say it could hit seven-year lows by September Cost […]

Borrowers turn lenders as banks tap firms for cash

http://www.reuters.com/article/2012/01/09/us-banks-companies-repo-idUSTRE80813T20120109 By Douwe Miedema LONDON | Mon Jan 9, 2012 10:00am EST (Reuters) – Blue-chip names like Johnson & Johnson (JNJ.N), Pfizer (PFE.N) and Peugeot (PEUP.PA) are among firms bailing out Europe’s ailing banks in a reversal of the established roles of clients and lenders. One source with knowledge of the so-called repo deals or […]