It’s the biggest amount since the inception of the euro area and a disproportionately large part, as much as 16.5 percent., Lending to euro area offered by the ECB. Spanish banks represent only 11 percent. area banking sector.
It seems that the markets were closed on the debt of Spanish companies and banks. It is possible that in June, the Spaniards will use an even greater share of funding the ECB. It is possible that Spain will have to use the EU’s new stabilization fund worth 440 billion.
On Tuesday the Spanish government was able to sell short-term bonds for 5.2 billion euros, but he had to offer slightly higher interest rate.
Much higher interest rate, because about 74 base points, have to pay the Greeks, after the decision by Moody’s to lower the evaluation of their reliability to junk status. Such a decision means that many investment portfolios will be automatically pozbywało Greek bonds, as they were removed from the indexes, which are determinants for investors, writes the Financial Times.