Holly Ellyatt
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Spain's largest banks have reported dismal results over the past 24 hours, hit by toxic real estate assets, and according to analysts, the results highlight the desperate need for Spain's banks to raise more capital.
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Spanish Prime Minister Mariano Rajoy is expected to announce stimulus measures as soon as Friday and the EU looks willing to ease budget deficit targets for Madrid, but it could all be in vain as the debt mounts up, according to an HSBC economist.
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There are hardly any jobs, generally low wages and it rains all the time: Not the usual picture that a country wants to portray of its culture or economy. However, U.K politicians are considering launching a negative publicity campaign in Eastern Europe to deter potential migrants from coming to the U.K. in search of jobs.
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With record unemployment figures, a fractious political scene, years of declining retail sales and Wednesday's depressing growth data, Spain appears to be sinking. Yet an improvement in risk appetite and falling borrowing costs continue to prop up the economy.
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The return of risk appetite has boosted European stock markets, as more investors have rotated out of safe-haven bonds, and new research shows sentiment towards European equities is now at the best level in several years.
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The British Prime Minister threw down the gauntlet on EU membership last week, announcing a referendum on U.K. membership of the EU by 2017. Now a new opinion poll in France shows a majority of the French population favor an exit by the British - "Les Rosbifs" - from the Union.
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After causing widespread consternation among his European Union (EU) partners with a speech calling for the EU to change, U.K. Prime Minister David Cameron has appeared politically isolated. However, support for his position appears to be growing, at least in some quarters within the EU.
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Barclays CEO Antony Jenkins told CNBC in Davos that the bank was too aggressive and too self-serving in recent years, as it seeks to put the manipulation of Libor and other scandals behind it.
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With billions of dollars' worth of distressed assets in its banks waiting to be snapped up by more intrepid investors, Europe is one of the "largest emerging markets" in the world, according to the chief executive of global private equity firm The Carlyle Group.