Yesterday investors bought the rumor. Better yet, they gave their vote of confidence to Europe as they anticipated results from a meeting that leaders from the continent are celebrating today in order to agree on a solution for Greece.
The expectation that they would come up with a plan influenced Spanish treasury bonds, which are now settling under 6% and could leave a free way for share values within the banking sector, Ibex and other European indexes could rise. If that were to happen, Spain could start selling its brand again.
They are imploring Europe to respond to this hope and to the historical challenge that they are facing. Spain realizes that investors are not selling with the news. If the leaders´ summit doesn´t provide an adequate solution, Greece will have clearly reached the edge of the abyss.
This would also signify huge risk for many Eurozone countries, meaning Spain and Italy would trail close behind Spain. Even Germany would be at risk.
Translated and Edited in English by Brandon Dyches and Jose L. De Haro.
