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Spanish bond rates switch to record above 7 percent  PARIS: The rate which Spain must pay to borrow for 10 years switched direction and rose to a record above 7.0 percent in morning trading on Monday after dipping in response to the Greek election. The sudden rise was a signal that immediate dangers of debt contagion within the eurozone remain despite the Greek vote in favour of rescue terms. The Spanish yield rose to 7.061 percent from 6.838 percent late on Friday. Copyright AFP (Agence France-Presse), 2012 ...

Bunds fall after Greek election, relief limited  LONDON: German bond prices fell on Monday after an election victory for Greece's pro-bailout New Democracy party staved off fears of an imminent Greek exit from the euro zone, but the relief looked to be limited and short-lived. Political parties in favour of the country's life-support bailout began forging a government on Monday after a narrow victory over radical leftists that wanted to tear up the existing agreement. That brought relief to financial markets, easing demand for ...
German bonds tumble as Greek election sparks relief  LONDON: German bond prices fell at Monday's open as an election victory for Greece's pro-bailout New Democracy party staved off fears of an imminent Greek exit from the euro zone, but few saw relief lasting over the long term. Political parties in favour of the country's life-support bailout began forging a government on Monday after a narrow victory over radical leftists that wanted to tear up the existing agreement. That brought relief to financial markets, easing demand ...
Italy to sell 10bn euros in state companies to reduce debt  ROME: The Italian government said Friday it will reduce its massive debt by raising around 10 billion euros ($12.6 billion) by selling off three state companies. It will also set up a real estate fund into which "all public buildings" will be placed to be "valued and sold" to private investors, it said. Copyright AFP (Agence France-Presse), 2012 ...
Spanish yields hit euro-era high after rating cut  LONDON: Ten-year Spanish government bond yields hit a new euro-era high on Thursday after Moody's cut Spain's credit rating to just one notch above "junk" and ahead of an Italian debt auction which could prove tricky as the euro zone debt crisis deepens. Ten-year Spanish yields rose close to the 7 percent danger levels, rising 13 basis points to 6.91 percent, while two-year yields jumped 23 bps to 5.2 percent. Italian bonds came under pressure before a ...
German bonds gain ahead of Italian debt sale  LONDON: Safe-haven German bond prices rose and gold firmed on Wednesday after Spain's credit rating was cut to one notch above "junk" ahead of a crucial Italian bond sale, and weak US data fuelled concerns that the euro zone crisis was hitting global growth. "We are fast approaching the point where both Spain and Italy may have to be removed from the market," said Gary Jenkins, director of Swordfish Research. Despite the rating cut, the euro ticked ...
Bunds open higher after Spanish downgrade  LONDON: German government bond futures rose on Thursday after Moody's cut Spain's credit rating to just one notch above "junk" and ahead of an Italian debt auction which could prove tricky as the debt crisis deepens. Moody's slashed Spain three notches to Baa3, its lowest investment grade rating, and said it could lower the rating further within the next three months. The agency said the newly approved euro zone plan to help Spain's banks will increase ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln