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George Liu
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I am the Chief Financial/Economics Columnist of The Daily Political Review, a Monitored Contributor for FOREXPROS, a Seeking Alpha Certified Contributor, as well as a paid blogger for The Motley Fool Blog Network. I also currently serve on the Board of Directors for Ureka Co. Currently, I am... More
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  • Spain's Bad-Tasting Medicine 0 comments
    Jul 12, 2012 9:29 PM | about stocks: EWP, EU, FXE, EUO

    A day after the EU announced that it would quickly deliver as much as 100B euros to Spain in banking and financial aid and gave Spain an extra year to bring its budget deficit back in line, Spain seems to be determined to continue on its largely self-imposed desire for austerity. Although EU leaders have promised 30B euros in aid by the end of July and have expressed some flexibility in hopes of preventing a downward spiral of the Spanish economy, the Spanish government seems to have decided to, as Jeremy Warner puts it, "set on a strategy of economic death by a thousand cuts."

    Spanish Prime Minister Mariano Rajoy is starting to push $65B in austerity cuts through the government, adding to the previous $45B of austerity he has already pushed through. Spanish markets reacted accordingly, declining 2.5% on the news.

    Stocks: EWP, EU, FXE, EUO
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