This is what economic recovery looks like

The credible website EuroIntelligence reported that Spain is now effectively cut off from international capital markets, which is a major new development.It has had to turn to the European Central Bank ECB for funding, which is not exactly brimming with money itself. The newspaper El Pais reported that Spanish banks now account for 16.5% of direct ECB borrowing, about double their normal shares. That represents a 26.5% increase over May.

via Spain Is Now The Big Story Of Europe | Daily Markets.

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