Spain 2010 Debt Plan Relief The Market

(Tuesday, 09Feb 2010), Spain's Treasury plans to issue €76.8 billion ($104.9 billion) in net debt in 2010, down 34% from a year earlier, as the government withdraws crisis borrowing and attempts to reassure markets its debt plan is under control.

Spanish Economy Secretary José Manuel Campa told investors in London that the government will make further spending adjustments if necessary.

Mr. Campa also said that a euro-zone bond wasn't being discussed, and that contagion from Greece would have a short-term effect on Spain's sovereign spreads.

With little in theway of economic data until later in the week, markets are expected to continue watching for a resolution of the Greek Fiscal crisis. It is worth noting that EU leaders are holding a special economic summit on Thursday. There is no doubt what is on the agenda.