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FBN’s Ashley Webster with the latest on the European debt crisis and its impact on Spanish markets.
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Since quickly seeing any aid is -- to the economic recovery out there.
As C Webster is back in Madrid with deet tails -- -- Yeah -- that Tracy while he complete only once for the -- thing we do know about the eurozone and EU leaders.
They don't exactly acted very swiftly but you'll right -- would like more help.
From the EU possibly using the bailout fund to buy Spanish bonds and Italian bonds -- have to wait and see whether there.
Germans will go along with that but -- the bank quoted today the latest -- on Spanish banks.
Saying that under a worst case scenario they may need to tap into as much as 78 billion dollars that's a lot less than a 126 billion.
That was promised but it doesn't exactly instill confidence.
And certainly the markets here continue to be.
While volatile -- best earlier today I talked to a direct debt at the Madrid stock exchange and took him about.
What impact the debt crisis -- had on the Spanish market.
The Hispanics is -- are reflected the effects of the crisis seems to -- Union City we decreases in prices them.
Needed the situation now we Seagate.
The crisis are really -- R&B -- -- track team a offering investors.
And did their level of crisis these -- attractive now.
Then it -- -- beginning this took it seems trusting that reflection of the situation of this Chinese economy and -- companies.
It the main companies hope it's being.
Have you seen a lot of capital coming out of the market.
Well skating.
Really a we have seen investors leaving the market but also others coming and -- -- -- foreign investors.
Costs hit the -- lucky post each and now where he now wears chains -- and even the past week we have percent they've done -- cut the aid.
That the reflex that before she should know bickering best person six -- the same doesn't -- to -- -- -- -- the of the crises date 3%.
Before -- -- and all that -- -- -- people that's prime needs a stops at least that on this crisis change.
How much investor confidence is there right now.
Why would be the confidence the confidence he's a quick spin off eight investments of course skating.
And deceit palatial west -- and -- the past two years.
But now.
Me this situation on the crisis and yet -- from this off prices you -- me.
It's affecting the it becomes -- -- -- for some they are coming to.
To buy some companies he did at the very with prices really.
Reilly you and can you say have foreign investors but how many domestic investors -- you have resisted a lot of interest in Spain to own shares.
Yes whether creating we have seen a decrease -- asking now about eight markets seeing.
Around the world seems the the 2000 since 2000 since needed dot com.
Me now what bass BBC.
Inflation -- to stabilize and for instance for the -- and that some food aid.
20%.
No the federal that he thought this Chinese companies least that he seemed house both hands.
Or no big surprise that the the sector -- had the most well volatility as the financial sector we've had a one Spanish bank bank here recently just taken over by the government and a cousin that Tracy there are continued fears that Spain indeed.
May need a full blown bailout and that's why the Spanish prime minister is asking for EU help sooner.
Rather than later back to you.
-- -- Actually see you later in the hour -- has been talking a ton of people and Spain and you could hear the desperation in their --
