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All Eyes on Spain Now?

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    Forex Research director Kathleen Brooks gives her outlook for the eurozone

  • Duration 4:06
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It's sticking with that being the markets Greek relief clouded by worries now over Spain -- this out Spain's ten year yields.

-- past 7% today.

So has Spain become the latest hot spot the year of -- and -- simply just at the end of it all gonna come that in Germany to foot the bill for the whole region.

These questions to Kathleen Brooks research director at four -- I Kathleen thank you so much for being with us this afternoon.

First okay -- out why we in the US -- acted quote you a market friendly response to the Greek elections and now what's going on with the Spanish yields.

He added I think -- really slightly blind sided you think inevitably an impediment -- relief rally we always need that is that in the mediums hand that they wouldn't be.

It is that the Greek -- didn't -- solve anything initial attempt.

You know -- tell risk of Greece leaving it could be yours and it's kind of now.

However that's already been announced to sustain a rally and -- -- have been prevented contagion spreading to spank.

So we have the G-20 meeting going on in Mexico -- if President Obama and Angela Merkel.

The German chancellor expected to have a closed door meeting perhaps going on shortly -- and -- Would be nice -- plan a while the T think anything sustainable can come of that.

Absolutely not mean what we've had what we've seen in previous G-20 meetings is that every -- -- not much concrete action -- They definitely and anything concrete coming -- of it.

I would god in the other day and the kids you name it goes seventeen man and -- the -- they'll need to agree on -- at things that that Johnson and that Khalilzad President Obama.

They can't just got into -- and that decide what's gonna happen that does not the way of the Euro is -- luck that the worrying thing is whether and all the mocking it.

Will give viewers -- enough times -- timing Stephanie running down.

Well they've had plenty at time when she say hate it and how do you think Oracle feel that had to foot the bill for the whole eurozone.

While deafening -- -- right I mean you guys -- an election season ASEAN she is next is say.

You know the USA and -- project with tons of stakeholder is an -- only that area of -- different.

You know agendas and how many have his Energen -- in -- medical wants to get back -- -- that stand.

She can't just be saying -- tax -- the generally -- underwrite the rest in the your is that -- right -- that the anyone's of the money.

And the economic might its to be able -- debt.

So what's the likelihood they're.

In some pieces written about the idea that Germany just goes about its own way and -- the rest of the euros on to fend for itself.

I and bush added I think it's as simple as that in a -- dealers -- this creates is not just as an economic union.

I still say kind of a political union Gemini is essentially that that's not say leader of acting as -- would agree with that so it gives them a great position on the wild stage say.

Basically it would be -- bad hegemony if they say it is president -- was -- disintegrates.

About one thing they've got one thing they they told us time and time again it -- -- -- TA is.

Is that they doesn't want to drama of the mom Casey just because we don't mind and we -- the blood to Spain.

Doesn't mean that -- lassie come up with the kids even if they did and what they did James -- things kind of one to eighteen night Aman duration -- -- in the time he had an interesting scenario and you know you wonder you have to have this global coordination by way -- -- central banks.

What do you think it will ultimate solution even if -- have to look five years ten years -- wrote Kathleen how does this all sort out.

-- it's -- is so -- day.

Now you -- see have one side of it which is that it couldn't see past say that these to be done initial time.

But in the -- have it's like bringing down wages in places like Ireland and Spain increasing malevolent English that is spiking in Spain free stumbles and that these.

Fantastic companies in Europe -- want to invest in Europe rather than invest in all the parts of the well.

I mean hey these things take an awful lot of time over -- go to kind of pull and -- -- resorts is he gonna have fiscal union backing union.

The northeast things taken -- for a long time to set up the outlook seen as they've been set up kind of you know attorney as previously then maybe we wouldn't be in the position that we're in now.

Well lots to talk about Kathleen Brooks thank you for sharing your analysis with --

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