Germany is open to a precautionary credit line for Spain, reports Bloomberg. Spain is supposedly...

|By:, SA News Editor

Germany is open to a precautionary credit line for Spain, reports Bloomberg. Spain is supposedly interested in a bailout "line of credit" in which the ESM would approve but not disburse any funds until Spain draws on them - more "bazooka in pocket" stuff. The euro adds 35 pips to already solid gains, +0.8% to $1.3049.