Market verdict due on Spanish talks

Market sources have warned the mood of investors could turn sour if they are not convinced by the terms of the deal, writes Jon Ihle.

9th June, 2012
Protesters in Madrid last Wednesday: the Spanish government is negotiating a funding programme with EU leaders. Photo: Getty

Markets are expected to rally this week on news that Spain is negotiating bailout terms with the troika to rescue its troubled banking sector, but a sustained recovery in confidence may require coordinated action by central banks and national banks, according to market sources.

Crunch talks began this weekend between Brussels and Madrid over the shape of a funding programme to help the Spanish government underwrite property loan losses in its banks without putting too...

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