Draghi: 'Exceptional measures' may be needed

European Central Bank President Mario Draghi defended the euro currency Wednesday and reiterated that "exceptional measures" are justified to stabilize financial markets.

In an op-ed published in German newsweekly Die Zeit, Draghi said the euro was launched as a "currency without a state," built on an "institutional framework" that left it vulnerable to crises.

Draghi went on to say that the the euro area needs a "new architecture" to complete the monetary MORE

Spanish economy shrinks, along with its borrowing costs

In the bizarre logic of financial markets, bad economic news continues to be viewed positively by many investors.

Spain is the latest example. The Spanish government released data Tuesday that showed the nation's economic recession deepening, yet borrowing costs continued to ease.

Spanish GDP shrank 0.4% in the second quarter, following a decline of 0.3% in the first quarter. The data confirmed a report released earlier this month from Eurostat that showed MORE

Spanish and Italian stocks are red hot

Spain and Italy have been a major source of concern for global investors, but you wouldn't know it from the stock markets in those countries.

Monday was a down day for most European markets, but stocks have been rising across the continent since European Central Bank president Mario Draghi made his now-infamous remark that the ECB will do "whatever it takes to preserve the euro" late last month.

Since Draghi uttered those MORE

Spanish stocks halted for 5 hours due to trading glitch

Computerized trading problems aren't unique to the United States apparently. The main stock market in Spain was halted Monday for nearly 5 hours due to a "technical glitch," according to the index operator.

The IBEX 35 was offline from 10:05 a.m. to 2:50 p.m. local time, a spokesman for the Bolsas y Mercados Españoles said. The index rallied after trading resumed, gaining 2.8%. The spokesman said he did not yet MORE

Spain, Italy back in bond market firing line

Spain and Italy came under renewed pressure in the bond market Friday after the European Central Bank said it would not buy government bonds unless specific conditions are met.

One week after he said the ECB would do "whatever it takes" to support the euro currency, ECB president Mario Draghi said Thursday that governments, including those in Spain and Italy, must first ask the eurozone bailout funds to buy bonds before MORE

Investors can't ignore Iran. Next Black Swan?

The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.

Investors were giddy Thursday after European Central Bank president Mario Draghi appeared to borrow Hank Paulson's old bazooka.  Stocks surged after Draghi said that the ECB would do anything and everything it could to save the MORE

Catalonia will not be ransomed, rescued nor bailed out

Catalonia appears poised to become the latest Spanish region to ask the central government for help paying its public debts, but the locals are not calling it a bailout.

The development, if confirmed, would make Catalonia the largest of Spain's 17 autonomous communities to request financial assistance from Madrid.

On Friday, Valencia became the first region to announce plans to tap the 18 billion euro fund Spain recently created to support its MORE

Short selling bans won't stop bears

The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.

The European debt crisis is over! Italy and Spain have it all figured out! The problem isn't unsustainable debt loads, ineffective economic policies and a lack of competitiveness on the global stage. It's that evil short MORE

Spain and Italy ban short selling

Securities regulators in Spain and Italy both instituted short-selling bans Monday as financial markets tumbled.

The move is designed to limit the downward pressure on markets by preventing investors from betting against shares of certain companies.

The ban in Italy applies only to short positions in shares of banks and insurance companies, according to the Commissione Nazionale per le Società e le Borse, or CONSOB.

Spain's Comisión Nacional del Mercado de Valores (CNMV) MORE

Investors continue to flee stocks

Investors continued to exit the stock market last week, as worries about Europe's ongoing debt problems keep rattling investors.

U.S. stock mutual funds lost $1.5 billion during the week ended June 27, according to the Investment Company Institute. Investors have now withdrawn money from the stock market for 18 of the past 19 weeks.

The latest week's outflows were logged prior to the "breakthrough" deal struck by European leaders aimed at easing the recapitalization of banks. MORE