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

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.

From other sites
Comments (5)
  • tom_t
    , contributor
    Comments (323) | Send Message
    It's amazing how "news" like this can move the market.
    16 Oct 2012, 01:09 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
    So what happens if/when Spain draws down the credit line (or will anyone be watching).
    16 Oct 2012, 03:51 PM Reply Like
  • Richard93
    , contributor
    Comments (812) | Send Message
    This is so silly we all know Spain will need major amounts of capital to cover its bonds for the next 3-4 years hoping the EU's economy can turn positive. We will have to wait until after the Election coming soon to see if that states votes to leave or not. If so another problem for Madrid if they can move forward creating jobs that can be a beneficial to there economy.
    17 Oct 2012, 02:45 AM Reply Like
  • marketdaddy
    , contributor
    Comments (69) | Send Message
    this is all going to end very badly for all those optimistos...65/25/10 cash/precious metals/leveraged inverse etf
    17 Oct 2012, 04:49 AM Reply Like
  • VictorHAustin
    , contributor
    Comments (824) | Send Message
    Standby Letters of Credit have been a pillar that enables International business between strangers for hundreds, if not thousands, of years. It seems like the Europeans are making sense for a change.


    I am, however, the opposite of an expert in these matters. But I'm an investor and they are critical to me.


    What am I not getting?


    Thanks in advance.
    17 Oct 2012, 10:19 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs