Provisions for loan losses in Spain continue to rise deepening the financial problems in the European economy.  Unlike in the United States many of these banks haven’t raised the necessary capital but instead merged with other larger banks.  The EU needs to have mechanisms in place to recapitalize the banks and stimulate growth. If banks...Read More

Concerns over the European economy and the debt situation in Spain and Italy has roiled the markets substantially over the last few days.  These factors combined with lackluster jobs growth on Friday are raising borrowing costs for the periphery of Europe, and have caused steep market declines particularly in Europe.  While profit taking is certainly well...Read More