The financial markets can be cruel at times, especially toward the weak, but their behavior is also rational and decided.
The news that on September 11 the European Commission will present a plan for banking unity caused the Ibex to soar 4.41% yesterday as it regained the 7,000 point mark for the first time since July 5. Demanded ad naseum by Rajoy, it is one of the main tasks left for the EU next to fiscal unity.
Not only will it allow all sectorial criteria to be standardized, such as the stress test that the Spanish banking sector underwent, but it will also foment the creation of a European banking regulator. This is one of the key pieces that can allow Spanish banks to get financing again.
