Central bank spends €14.3bn, compared with €22bn in the previous week, as its focus remains on controlling Spanish and Italian borrowing costs

Not surprising news really. When you’ve been in denial for so long this is what you should expect. Spanish banks lost as much as 8 percent at Monday’s market opening (before recovering later) after the government announced the first intervention in a Spanish bank since 1993. The euro was also down 0.9 percent on the

Single currency finds support after the European Central Bank intervenes to buy Italian and Spanish government bonds

State aid for broadband in 2010 was more than four times the amount in 2009 and comprised a record total of €1.8 billion in public funds. But scepticism remains as to whether EU funds will inject competition into the high-speed Internet market.

Institutions draw heavily on pre-Christmas offer of unlimited three-year loans, taking up quarter of total liquidity supplied by Central Bank

Irish banks last month borrowed nearly 30 per cent more emergency funding from their national central bank and increased their reliance on the European Central Bank to a record €136bn

There is widespread coverage of Friday's stress tests on European banks. From the 91 tested, only Germany's Hypo Real Estate bank, five Spanish regional savings banks - the "cajas" - and Greece's ATE Bank failed the tests. In total, the banks needed to raise €3.

An article on Bloomberg (found here) is discussing the Spanish Debt dilemma. To make the Spanish economy more productive they have to cut their Euro Denominated wages. However this is halting the ability of the Spanish to pay off the debts they accumulated in the good times. Usually you would allow either inflation to erode the internal debts, devalue or set interest rates to jump start economic a...

The outgoing Spanish EU presidency will be remembered for overseeing the first steps towards a ''necessary and absolutely essential'' evolution from monetary union to economic union, Rafael Dezcallar de Mazarredo, Spanish ambassador to Berlin, told EurActiv Germany in a recent interview.

Political News THE single biggest news is that the UK and France are going to sign a defence treaty. The Spanish Secretary of State for Defence , Constantino Mendez, criticized the mismanagement throughout a series of major acquisitions for the modernization and professionalization of the Spanish armed forces. The Spanish Ministry of Industry will inject €1,250 million into the Spanish MoD. T...