FXstreet.com (Barcelona) - Headlines about a possible Spanish bailout are moving the markets since late US session of yesterday, with the FT report that a “Spanish bailout could come earlier than expected as EU Leaders were working with Spanish leaders in the crafting of the new budget and structural reforms”.
“Spain will have all of the preconditions for a program in place by the end of next week with the 2013 budget, a schedule for structural reforms, and the full results of the banking sector stress tests”, wrote analyst Richard Kelly, pointing however that it doesn't mean Spain will make the request right away, as they may still want to see if having everything in place is enough to keep market pressure at bay, especially with regional Spanish elections and no large rollovers to come until the end of October.
“Spain will have all of the preconditions for a program in place by the end of next week with the 2013 budget, a schedule for structural reforms, and the full results of the banking sector stress tests”, wrote analyst Richard Kelly, pointing however that it doesn't mean Spain will make the request right away, as they may still want to see if having everything in place is enough to keep market pressure at bay, especially with regional Spanish elections and no large rollovers to come until the end of October.
