It is thought Spain’s banking sector will require another bailout of more than more than €100bn.
Spanish banks face a record number of bad debts with 1 in 10 loans in arrears.
Spain already received €100bn in June to recapitalise it’s banks, but at the time many economists warned the amount was not sufficient and it would only be a matter of time before Spain required more cash.
The political mood in Spain is also deteriorating with the Catalonian region threatening to break away from the rest of Spain because of the financial crisis and the austerity measures.
via Debt crisis: Spain ‘will need extra bail-out’ – Telegraph.
Tough economic times, are we in for a recession worst than the one we saw in 2008? Seems like no investment is safe these days, not stocks, not even property.
Greenhouse Carbon taxes and Obamacare did wonders for Spain – I can understand why liberals want to vote for it here.
Markets were down yesterday due to fresh worries on Spain. Today we are bracing for anti austerity protests in Greece. This has consequences for the world economy.