blog

Euro drops after French bond auction

The euro has dropped to its lowest rate against the dollar in 16 months after France sold 8bn euros ($10.3bn, £6.6bn) of bonds at an auction.

(BBC NEWS) London - The euro fell to $1.2831 against the dollar and was at an 11-year low versus the yen.

France paid an interest rate of 3.29% to borrow for 10 years, up from 3.18% at the last sale in December.

Many investors fear that France is poised to lose its top credit rating, making it more expensive to borrow.

Markets were also unsettled after Luis de Guindos, Spain's economy minister, told the Financial Times that its banks may face up to 50bn euros in new bad loans - higher than previous public estimates by the government.

Later on Thursday, Spain will unveil more austerity measures.

READ MORE

You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in
Keep up with the world. Break out of the bubble.
Sign up to our expressly international daily newsletter!
Coronavirus

Why U.S. Vaccine Diplomacy In Latin America Makes "Good" Sense

Echoing its cultural diplomacy of the early 20th century, the United States is gifting vaccines to Latin America as part of a renewed "good neighbor'' policy.

Waiting to get the vaccine in Nezahualcoyotl, Mexico

Andrea Matallana

-Analysis-

BUENOS AIRES — Just before and during World War II, the United States' Good Neighbor policy proved a very effective strategy to improve ties with Latin America. Initiated by President Franklin D. Roosevelt, the policy's main goal was non-interference and non-intervention. The U.S. would instead focus on reciprocal exchanges with their southern neighbors, including through art and cultural diplomacy.

Keep reading... Show less
Keep up with the world. Break out of the bubble.
Sign up to our expressly international daily newsletter!
You've reached your monthly limit of free articles.
To read the full article, please subscribe.
Get unlimited access. Support Worldcrunch's unique mission:
  • Exclusive coverage from the world's top sources, in English for the first time.
  • Stories from the best international journalists.
  • Insights from the widest range of perspectives, languages and countries
Already a subscriber? Log in
THE LATEST
FOCUS
TRENDING TOPICS
MOST READ