Sunday 17 December 2017

Brendan Keenan: Information, not austerity, is what financial markets really want to see

Brendan Keenan

Brendan Keenan

'WHAT Do Women Want?' was the title of a book by the feminist writer Erica Jong. The phrase throws up 138 million results on Google. As a mere man, I am not really surprised.

Professionally, I would like to see more answers to the burning question: "What do markets want?" The last few days were no help at all in solving this riddle.

It seemed to start with a chilling comment from Francisco Gonzalez, chairman of one of Spain's biggest banks, BBVA. "For the majority of Spanish companies and financial firms, international capital markets are closed. If the Spanish state is having difficulty in financing itself outside Spain, then the difficulties will be even greater for those in the private sector," he said.

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