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Italian PM Mario Monti has refuted Austrian finance minister Maria Fekter's statement that Italy will be forced to seek financial assistance from the EU in the coming months. Interest on Italian debt has passed the 6% danger threshold.
“Italy won’t need any aid” – Corriere della Sera
Spanish banks are to pay for their rescue at a 8.5% rate of interest while the state that is lending to them will repay the Eurogroup at 3%. Madrid stands to recover the difference. As Spanish ten year bond yields hit a record 6.84%, Italy is on the brink, with its stock exchange diving, the worst performance in Europe.
Italy “al dente” for markets — Spain could earn €4.4 billion a year with aid to banking system – La Razón
Interest on Spanish ten year bonds hit a record 6.84% as Finance minister Luis de Guindos admitted that days of “great tension” still lie ahead.
Spain pays highest interest rate since euro created – El Correo
If at least 9 EU member states agree on a financial transactions tax, the proposal might be adopted as soon as next week, during the EU council of finance ministers. But the UK is still vetoing the tax, while its adoption was a condition made by the German left to support chancellor Angela Merkel on the EU fiscal treaty.
Tobin tax could be agreed in 2012 – Süddeutsche Zeitung
Cypriot finance minister Vassos Shiarly has announced that Cyprus might apply for EU aid by the end of the month to recapitalize the national banks most exposed to the Greek crisis and to finance its own debt. Negotiations are also underway with China.
Desperately seeking new unilateral loan – Politis
Public opposition to its controversial household charge is a timely warning to the government to ensure Ireland’s reform burden is “fairly and equitably shared”, according to the EU-IMF troika. Its latest report also called for the sale of state assets, including national airline Aer Lingus, by early 2013.
EU-IMF says austerity charges must be shared “fairly” by all – The Irish Times
The price of farmland, in particular close to big cities, soared by 22% in the first quarter of 2012. The Warsaw daily explains that with the current European crisis investors are avoiding currency and stock exchange speculation, and turn a safer profit investing in land.
Our dearest land – Dziennik Gazeta Prawna
A conversation with investigative reporters Stefano Valentino and Giorgio Michalopoulos, who have dissected the dark underbelly of green finance for Voxeurop and won several awards for their work.
Go to the event >