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Spanish banks start to fail…Bank of Spain steps in

This topic has 3 replies, 3 voices, and was last updated 12 years, 8 months ago by adiep.

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- May 22, 2010 at 4:36 pm #55627
  
  Anonymous
  Participant
  
  The crisis is now starting to hit home in Spain after many months of them thinking it will be a-ok. The bank of Spain has today delved deep to inject 550 million Euros to save CajaSur from going under:
  
  http://www.typicallyspanish.com/news/publish/article_26160.shtml
  
  It’s not surprising to most of us, Spain is going to be hit by many more failures and the hard times have not even started to kick in yet. Will Germany put up with this?
  
  Sure to be an interesting year..
  
  Ian
- May 22, 2010 at 7:31 pm #98680
  
  adiep
  Participant
  
  What will the bank of Spain do, that’s the question for me. They can sell the assets and liquidate, prop them up or try and find a buyer.
  
  Thoughts?
- May 23, 2010 at 10:00 am #98686
  
  Anonymous
  Participant
  
  Turbulent times ahead, of that there is no doubt.
  
  http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7753874/Hedge-funds-bet-big-on-the-falling-euro.html
  
  But the rescue of the Cajasur is small fry compared to Northern Rock.
- May 23, 2010 at 5:05 pm #98694
  
  adiep
  Participant
  
  Small fry, but may represent the dam bursting.
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