Matter of time before speculators target Spain: de Blonay

Jupiter financials specialist Guy de Blonay believes it is only a matter of time before speculators move on troubled European nation Spain.

The manager, who co-manages the £1.05bn Jupiter Financial Opportunities fund with Philip Gibbs, says Spain has a lot to do to restore credibility and confidence to the markets. While problems with other peripheral nations Ireland and Portugal persist, de Blonay says Spanish debt could come under similar scrutiny to Greece. "The difference with Spain is it has to roll-over a significant amount of debt in the near-term. Its unemployment rate is rising and its housing market still faces pressure," de Blonay says. "The solution is not an easy one; it will take many years to resolve its...