Spain said it was extremely worried about the impact of Italy's deadlocked election result, warning the deadlock could affect the entire eurozone.
Foreign Minister José Manuel Garcia-Margallo said there was a feeling of "extreme concern" over possible movements in bond spreads as a reaction to the results. "This is a jump to nowhere that does not bode well either for Italy or for Europe", Garcia-Margallo said. The Spanish government said it was monitoring the situation, especially the fallout on financial markets as the premium investors demand to hold Spanish 10-year debt.
Economy Minister Luis de Guindos said Spain had a strong liquidity position and could cope with market jitters after the Spanish Treasury sold close to €11 billion of debt last week. "We will see how the situation evolves. We hope there will be a stable government. What is good for Italy is good for Spain", de Guindos said.
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