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Spain

European Markets Rebound After Spanish Bank Rescue

BLOOMBERG (U.S.), EL MUNDO (Spain)

MADRID - European markets got a boost following Spanish Prime Minister Mariano Rajoy's confirmation that Spain received 100 billion euros ($125 billion) from the European Union to rescue a major chunk of its banking sector.

The rebound in Monday trading was described as "euphoria" in the Spanish press. According to the Spanish newspaper El Mundo, the European aid "strengthens Spanish reliability" and "is approved by all investors," hence the promising European Stock Exchange opening.

"Now we can breathe, after one week of suffocation. But we can't speak about serenity, because a lot remains to be done in the following weeks," warns Alberto Roldán, a financial analyst for the Spanish brokerage firm Inverseguros.

Bloomberg reports that Spanish bank shares benefited most from the news: "Banco Santander SA (SAN), Spain's biggest bank, jumped as much as 9.7 percent in Madrid trading. Banco Bilbao Vizcaya Argentaria SA, the nation's second-largest lender, climbed as much as 10 percent."

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Ideas

A Writer's Advice For How To Read The Words Of Politics

Colombia's reformist president has promised to tackle endemic violence, economic exclusion, pollution and corruption in the country. So what's new with a politician's promises?

Image of Colombian President Gustavo Petro speaking during a press conference in Buenos Aires on Jan 14, 2023

Colombian President Gustavo Petro, speaks during a press conference in the Community of Latin American and Caribbean States (CELAC) Summit in Buenos Aires, Argentina, on January 24, 2023.

Manuel Cortina/ZUMA
Héctor Abad Faciolince

-Essay-

BOGOTÁ — Don't concentrate on his words, I was once advised, but look at what he's doing. I heard the words so long ago I cannot recall who said them. The point is, what's the use of a husband who vows never to beat his wife in January and leaves her with a bruised face in February?

Words are a strange thing, and in literal terms, we must distrust their meaning. As I never hit anyone, I have never declared that I wouldn't. It never occurred to me to say it. Strangely, there is more power and truth in a simple declaration like "I love her" than in the more emphatic "I love her so much." A verbal addition here just shrinks the "sense" of love.

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