Foreigners Dump Nearly €80 Billion in Spanish Debt; Haircuts Come After More Dumping
Foreign investment in Spanish public debt has decreased by €78.168 billion in the first six months of the year, standing at €203.271 billion euros, compared to €281.439 billion which reached the end of 2011. This is a break of 27.7% over last year.
The largest decreases were recorded in February and March, at nearly €25 billion each month.
Analysts note that Spanish financial institutions that are supporting strongly the Treasury issues and thus raising their level of debt thanks to interventions by the ECB