Euribor reaching record high
With August just gone, Euribor has risen to a spectacular 4.8%. This increase of more than two tenths of a point is due to the mortgage crisis in the USA.
The consequences of this crisis have aleady been felt in the European stock markets which reached minimum lows during August with some European banks being sold to offset the negative effect caused by this crisis.
In the meantime, the IMF is attempting to defend the rights of its contributors, indicating that adverse effects of the crisis should fall directly on investors even if the last increase to the Euribor doesn´t seem to follow this line.
For more about mortgages, see our Mortgages in Spain section
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