Yesterday news broke that Spain had put in €15 bn austerity package in a vote that was won by just one vote. It is a package that includes a 5% average pay cut for public sector workers and several substantial cost saving measures. This has given the Euro some strength and is a long coming relief to what has been a week of losses for the euro.
Clients should be wary though as this makes them viable for the support package put in across Europe earlier this week. Plus the hole that has been filled in Spain are still wide in Portugal who got a server warning by the European Central Bank earlier this week. For more breaking news as they developed and the repercussions in the market feel free to contact me directly on email@example.com.