Spain is on the cusp of something, but no one seems to know for sure what it is. The country received good news from Moody’s that kept Spain’s sovereign paper rating at investment grade. That has not calmed speculation the country will ask for aid from the European Central Bank to buy its paper and bring down bond yields. That help would come with strings attached, unless the assistance comes in the form of a line of credit (maybe).
The European Union would have to help Spain set a budget and then watch over it, or at least that is what powerhouse Germany would like. Some experts say Spain wants to avoid that fate and will try to finance its trouble on its own. Every other hour there is news that Madrid will plead for help or it won’t.
A senior EU official said momentum has increased as resistance to the plan has fallen off in Germany, which has for weeks urged Madrid not to make the request. The official cautioned a formal application could still be weeks away.
“They are moving to a request, yet it may not happen today or tomorrow or this week,” said the official. “Germany’s moving and the timeline will depend on the Greek saga.”
Douglas A. McIntyre
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
