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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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Geopolitics

The Pope's Bronchitis Can't Hide What Truly Ails The Church — Or Whispers Of Succession

It is not only the health of the Pope that worries the Holy See. From the collapse of vocations to the conservative wind in the USA, there are many ills to face.

 Pope Francis reaches over to tough the hands of devotees during his  General Audience at the Vatican.​

November 29, 2023: Pope Francis during his wednesday General Audience at the Vatican.

Evandro Inetti/ZUMA
Gianluigi Nuzzi

ROME — "How am I? I'm fine... I'm still alive, you know? See, I'm not dead!"

With a dose of irony and sarcasm, Pope Francis addressed those who'd paid him a visit this past week as he battled a new lung inflammation, and the antibiotic cycles and extra rest he still must stick with on strict doctors' orders.

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The Pope is dealing with a sensitive respiratory system; the distressed tracheo-bronchial tree can cause asthmatic reactions, with the breathlessness in his speech being the most obvious symptom. Tired eyes and dark circles mark his swollen face. A sense of unease and bewilderment pervades and only diminishes when the doctors restate their optimism about his general state of wellness.

"The pope's ailments? Nothing compared to the health of the Church," quips a priest very close to the Holy Father. "The Church is much worse off, marked by chronic ailments and seasonal illnesses."

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