European stock markets, especially Spain's Ibex, celebrated with gains after the ECB announced a new round of stimulus for the euro zone. Spanish banks led the pack with 4% gains on the news that Draghi would continue to back their loans.
Also, the Bank of Spain is drawing up formulas that improve financing conditions for businesses. These measures will favor banks directly, yet there will be a slight impact on other companies because the banks will continue loaning to only those who can gaurantee they will pay their debts.
For this reason the ECB said yesterday that we need to find more ways to provide financing for small- and medium-sized businesses.
