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Spain's banks 'need 59.3bn euros of eurozone loans'

 
Face Palmer
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User ID: 24573069
Germany
09/28/2012 02:16 PM

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Spain's banks 'need 59.3bn euros of eurozone loans'
Spain's banks will need an injection of 59.3bn euros ($76.3bn; £47.3bn) to survive a serious downturn, an independent audit has calculated.

The amount is broadly in line with market expectations of 60bn euros, and follows so-called stress tests of 14 Spanish lenders.

Much of the money is expected to come from the eurozone rescue funds, the current EFSF and the future ESM.

[link to www.bbc.co.uk]
"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."

Never attribute to malice that which is adequately explained by stupidity.
RoXY

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Netherlands
09/28/2012 02:20 PM
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Re: Spain's banks 'need 59.3bn euros of eurozone loans'
Well, me too!
Anonymous Coward
User ID: 19816311
United States
09/28/2012 02:21 PM
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Re: Spain's banks 'need 59.3bn euros of eurozone loans'
According to an investment EXPERT being interviewed by CNBC..its MORE LIKE 350 BILLION....
Face Palmer (OP)
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Germany
09/28/2012 02:22 PM

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Re: Spain's banks 'need 59.3bn euros of eurozone loans'
Well, me too!
 Quoting: RoXY


I will call our chancellor and see what I can do.
"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."

Never attribute to malice that which is adequately explained by stupidity.
Face Palmer (OP)
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User ID: 24573069
Germany
09/28/2012 02:22 PM

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Re: Spain's banks 'need 59.3bn euros of eurozone loans'
According to an investment EXPERT being interviewed by CNBC..its MORE LIKE 350 BILLION....
 Quoting: Anonymous Coward 19816311


Yeah, they give it to us in small pieces. First estimates usally double or triple. See Greece.
"The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title."

Never attribute to malice that which is adequately explained by stupidity.

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