The US fund Blasket Renewable Investmens places Spain's financial reputation in a delicate situation. Blasket has already activated the so-called "default" clause in four issues of Spanish public debt in international markets worth about 910 million euros.
This implies, according to sources close to this US fund, that "these public debt securities must be immediately repaid to creditors for their principal amount, together with accrued interest" Blasket won an arbitration award to Spain for the cut in premiums to renewables and that the State has resisted paying.