Futures Market News
Spanish finances fall under scrutiny as ministers prepare to meet
Mar 26, 2012 08:50 AM
Monday saw the value of the common currency of the European Union briefly increase against the world's reserve currency but the leader of one debt-hobbled euro zone nation issued sharp criticism of another one, published reports indicate.
German think tank Ifo released a survey stating business sentiment in the nation hosting the region's biggest economy surprisingly improved, Bloomberg reports. But Italian Prime Minister Mario Monti called attention to the plight of Spain, serving as a reminder of the dangers and damages caused by the sovereign debt crisis.
"It doesn't take much to recreate risks of contagion," the prime minister said over the weekend while at a conference in Northern Italy, according to Bloomberg. He noted Spain "hasn't paid enough attention to its public accounts."
Monti's remarks come ahead of a regional finance ministers' meeting set for Friday in Copenhagen. Officials are attempting to raise a ceiling on bailout funding equaling the equivalent of $664 billion in euros.
The Ifo business climate index came in at 109.8, rather than the 109.6 that economists and analysts anticipated, according to Bloomberg.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Free eBook — Gold Exposed: Spot Gold versus Gold Futures
Are you interested in trading gold futures but unsure of how to start?
Register for our FREE guide, and learn the ins and outs of the gold markets that will help answer many of your trading questions.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.