The hope is that the latest decisions taken by the Eurogroup reverse the trend. The certainty however is that at the moment the flight of capital from Spain seems unstoppable. In general, the data relating to the last few weeks continue to reveal a trend of capital flight from the markets considered to be more at risk. But for the Iberian country the situation is particularly alarming.
According to numbers released today by the Spanish Central Bank, in May, the country experienced net capital outflows of 26,6 billion euros. A real haemorrhage, considering that in the same period last year net flows of 3,3 billion euro were recorded.
The current account deficit, on the other hand, decreased to 1,7 billion in April, from 3 billion a year ago, mainly reflecting a drop in imports, which fell to 20,7 billion from 21,4 in April 2011. Finally, it is the service surplus also increased, from 2,3 to 2,8 billion.
