Questions? Mariano Rajoy gives a press conference on June 10. Dani Pozo/AFP/GettyImages
The initial rally that greeted news of the eurozone’s €100bn emergency loan for Spanish banks petered out so quickly that you might have missed it altogether if, say, you’d had a lie-in on Monday morning. Clearly this was not how it was meant to be. The eurozone ministers who agreed the deal with Spain on a two hour conference call on Saturday must have hoped it would buy them at least a few full days of investor confidence. Instead, the yield on Spain’s 10-year bonds rose to a fresh euro-era high today. Here are some of the best news stories, analyses and comments on Spain’s so-called ‘bailout-lite’, from the FT and elsewhere:
Teofilo Stevenson at the Moscow Olympic Games in 1980. (AP Photo)
Havana has just lost a hero. Teofilo Stevenson, perhaps one of the world’s greatest boxers, has died of a heart attack. He was 60. Ironically, the 6ft 3-1/2 inch super heavyweight is most famous for a fight that never happened: a bout with Muhammad Ali.
Stevenson was reputedly offered $1m by Don King, the promoter, to fight Ali after he won his first Olympic gold medal in Munich in 1972. Stevenson said he didn’t want to go professional, and replied, “I would rather the affection of eight million Cubans.” Sports Illustrated ran the headline: “He’d rather be red than rich.”
Inevitably, Stevenson’s reputation was carefully cultivated by the Cuban government. Yet sport, they say, transcends politics and so I don’t suppose I really care about that. Instead, what I remember best is of holidays in Miami in the 1970s and 80s with my Cuban family, when we would all gather round the television and cheer Stevenson along.
A few recommendations across the web from the FT world desk today:
By Gideon Rachman
Visiting the Financial Times a couple of weeks ago, Luis de Guindos, Spain’s economy minister, predicted: “The battle for the euro will be fought in Spain.”