"The desperate news about Spain was not surprise," says David Buick, Partner, BGC as he presents his analysis on CNBC-TV18. Buick explains that the Spanish banking system was bearing the brunt and the sector could be witness to intense M&A activity in the near future
Louise Cooper of BGC Partners explained to CNBC-TV18 that the European markets were bogged down by a number of worries. This includes a French Presidential candidate with strong anti-austerity views who has won the first round of polls and the collapse of the Dutch government over disagreement over observing austerity measures.