EUR/USD is at 1.2478, Nonstop Decline since 1.30 Breakdown

The euro's descent continues...

This Bankia news is interesting:

Rajoy Backtracks on Spain Plan to Use Bonds to Rescue Bankia (SFGate)
BFA-bankia seeks to raise up to 55 bln euros in debt over 5 yrs (Reuters)
Spain to go to market to fund banks, regions (Reuters)
Bankia parent group BFA posts 2011 loss of 3.3 billion euros (Chicago Tribune)
Spain May Use Its Debt Instead Of Cash For Bankia Group (Bloomberg)
Spain's Bankia to seek €19bn in state funds (Irish Times)
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