Euro Crisis : Japan follows Fed, Spain in Spotlight once Again

Late surprise news that the Bank of Japan was to follow the ECB and Federal Reserve in providing more stimulus measures for its economy saw US markets rise yesterday, and a postivve effect was also seen in European markets this morning.

Japan’s central bank announced it is to both extend and increase its bond purchasing programme.

Today however, investor focus is shifting –  once again – to Spain, ahead of tomorrow’s bond auctions.

The troubled nation’s government appears no closer to accepting a bailout whilst the majority of opinion would suggest the country should accept some sort of rescue package to prevent yields spiking dangerously once more and stabilise markets.

The result of tomorrow’s auctions is expected to provide clarity on just how worried investors are about the knock-on effects caused by the state of the Spainish economy.

Meanwhile, the chairman of the Eurogroup of finance ministers Jean-Claude Juncker was quoted by Reuters yesterday as saying a Greek exit from the eurozone would be a disaster for the country and for Europe too.

 

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