After Thursday’s Euro-zone summit European stock markets rose by more than 4%. The Italian FTSE MIB index of stocks rose 6.6% to comfortably beat the 5.7% rise in Spain’s IBEX 35 index. Semi finalist Germany’s DAX rose 4.3%
Re: Italy beats Spain!
but what about the loan-default crisis? who is leading who in closing-in on the disaster?
Re: Italy beats Spain!
I think 2004 euro champ Greece is the winner going away!
Re: Italy beats Spain!
^ thats true, but Greece can't win in game of Italy vs Spain :D ... what I am trying to ask is, who in the 2 (Italy/Spain) is closer to default?
Re: Italy beats Spain!
Yes you are correct! The "Greecians" cannot possibly win in this contest. I will assign our sovereign debt staff to address your question. Kindly be patient since they are stretched right now.
Re: Italy beats Spain!
Our staff reports that 10 yr bond yields for Spain and Italy are 6.3 and 5.75 respectively. So lookslike Spain has a worse debt crisis. Glad to be of service.
Please note our office will be closed July 4.
Re: Italy beats Spain!
Our staff fielded calls all day from some steamed guppyans. They demanded to know why the debt to Gdp ratio for spain and italy was not compared. To their credit they stated Spain debt/Gdp ratio is about 0.8 - a steep rise from 0.69 in 2011. After recent bailout it is set to reach 0.9. The ratio for Italy is 1.2. Hence by this metric Spain looks better.
Our staff was reminded not to put out ill-researched analysis.
We as always thank the ever-alert guppyans.