Saturday, April 30, 2011

SPAIN - The ECB makes it difficult for financially troubled countries

The European Central Bank (ECB) increased interest rates, the risk of "complicating the recovery of peripheral European countries," the announcement in a newspaper. Stable since 2008, rates rose from 1% to 1.25% and the ECB is likely to be followed by other central banks. This increase would make it more difficult to repay debts that states in difficulty, such as Portugal, have contracted, the newspaper said.

The ECB has raised the risks of inflation to justify raising rates.

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