Eurozone crisis live: Spain under pressure as EU publishes report cards

The European commission will release progress reports this morning showing how the 27 members of the EU are performing

8.00am: Good morning and welcome to our rolling coverage of the eurozone financial crisis.

Coming up today — the European commission will release new report cards on the budget plans of the 27 members of the EU. These progress reports are eagerly anticipated, as they will probably contain copious pages of recommendations from the commission on how countries can stay on the right path (or struggle back to it). We’re expecting them to be released at 11am BST (noon Brussels time).

Spain’s report will be particularly interesting, at a time when its banking crisis continues to blaze. With no clear plan for recapitalising Bankia, speculation over the help needed by the banking industry, and a central bank governor quitting his job early, the pressure on Madrid is unrelenting.

Also coming up, new eurozone economic confidence data will be released, and Italy is holding its third bond auction of the week. © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds

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