From Expansion (google translated)
“After cutting the rating of Baa3 and Spain to threaten to put Spanish debt at the level of junk bond no later than 30 days, has reviewed the notes of all banks. “We have reported a reduction of two or three notches (steps) to almost everyone. Do not look at individual financial statements of each entity. Do not discriminate, “added the sources.
And is that the sector is particularly annoying because [...]
Spanish banks may need further long-term loans from the European Central Bank, according to bankers advising such firms, after clients withdrew deposits and some lost money investing in government bonds, leaving them without sufficient funds to pay back debt maturing this year.
Lenders in the country took the largest slice of the €1trn loaned out to banks under the ECB’s two three-year longer-term refinancing operations, and currently owe €317bn to the [...]
AT A GLANCE: European Banks’ Disclosure On LTRO Participation | 4-Traders
*Intesa Sanpaolo SpA (>> Intesa Sanpaolo SpA) took EUR24 billion, its CEO said.
*UBI Banca SpA (>> UBI Banca Scpa) took up about EUR6 billion, a person familiar with the matter said.
so, we’re looking at 30B of the 75B total going to 2 banks, possibly? and other banks notreporting due to bloodyStigmata? this was designed by mario4mario so this li’l can is kicked for 3 whole years! what “can” happen next is [...]
Spain’s new prime minister has looked into the abyss and recoiled.
Though he swept into office as an apostle of orthodoxy, Mariano Rajoy has since delved into Madrid’s ghastly accounts and concluded that it would be “suicidal” to try to slash the budget deficit from 8pc of GDP to 4.4pc of GDP this year, as demanded by Europe’s fiscal Calvinists.
Such a policy would require a further €40bn or €50bn of cuts [...]