Pressure grew for European regulators to publish results of stress tests on individual banks to restore market confidence and overcome a buy mbt shoes partial freeze in inter-bank lending. Such tests show banks' ability to withstand liquidity problems.On the eve of a European Union summit in Brussels that was expected to approve tougher fiscal rules to prevent a repetition of the Greek debt crisis, the the north face European Commission and the International Monetary Fund denied Spain was about to seek financial help.
The risk premium demanded by investors to hold Spanish debt buy timberland boots rather than benchmark German bonds rose to a euro lifetime high of 223 basis points because of bailout rumors before a closely watched Spanish bond auction on Thursday.Spain won praise from German Chancellor Angela cheap timberland boots Merkel after the cabinet in Madrid approved a decree to overhaul rigid hire-and-fire laws intended to restore economic competitiveness.
"Spain has made an important contribution to enhancing the competitiveness of the whole of Europe. Our continent as a whole must be regarded as competitive," timberland boots she said in Brussels. "I think we should encourage Spain that this is the right way."EU leaders denied a report in the Spanish business newspaper El Economista that the United States, the EU and the IMF were preparing a 250-billion-euro ($308.6-billion) credit timberland shoes line for Spain."We don't see any specific reason today to be worried about Spain and there is no Spanish issue on the agenda of the Council," a source in air max French President Nicolas Sarkozy's office said.
French and German officials said Spain's fiscal problems were not on the agenda of Thursday's one-day EU summit on fiscal and economic reforms and Portugal's prime minister said his country did not nike rift need financial help.Like Spain, France took a step on reforms, announcing plans to raise the retirement age to 62 from 60 and increase taxes on the rich to balance strained pension accounts by 2018. SWP
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