Euro Crisis : Spanish Budget Affects Markets

Share On Facebook

European markets fell sharply yesterday –  the FTSE 100 losing £23.2bn –  as fears rose about riot-hit Spain, and the unrest in other European nations including Greece and Portugal was widely reported.

Austerity measures demanded by the European Union and the International Monetary Fund to resolve the debt crisis  are unsurprisingly unpopular amongst the already-stretched people living in the worst-affected countries.

Spain is expected to announce additional austerity measures worth £31bn in its 2013 Budget later today. It is hoped the plans may help to win over sceptical investors, scared the eurozone’s fourth largest economy does not have the political will to get its finances under control.

The reforms are likely to include a new tax oversight body as recommended by Brussels, restrictions on early retirement, and new taxes on emissions and share deals.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190721 11:47:00