Spanish banks ‘need €40 billion’ as eurozone ministers prepare for talks


Spanish banks ‘need €40 billion’ as eurozone ministers prepare for talks

CNN.com

June 9, 2012

Eurozone finance ministers will hold a conference call Saturday as concerns grow over the state of Spain’s ailing banking sector.

The talks come a day after the International Monetary Fund said Spain’s banks need at least 40 billion euros (about $46 billion) in fresh capital to preserve the country’s financial stability.

An IMF mission visited Spain and conducted “stress tests” on banks. In its report, released Friday, the IMF recommended that considerably more capital be set aside for the country’s most vulnerable banks to cover “restructuring costs and reclassification of loans.”

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About partisanrangershow

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7 Responses to Spanish banks ‘need €40 billion’ as eurozone ministers prepare for talks

  1. Cromwellsheart says:

    Now I watch this with interest. This is Catholic Spain, the Spain of Franco. The country that vied with England for domination.
    My, we do live in interesting times!

    • Cromwellsheart says:

      Yes thanks Cousin, my mood matched these articles save for one uplifting thought! You know what that one is 🙂

  2. gideon says:

    Here is the END GAME slideshow. Interesting to say the least. God bless you and yours Cousin.
    http://www.businessinsider.com/raoul-pal-the-end-game-2012-6#-1

  3. Cromwellsheart says:

    Thank you dear Cousin. My money is on The Galilean, always has and will be. Frankly why should we fear? We know the outcome and I for one look forward to it 🙂

    God Bless too!

  4. gideon says:

    And “They” UNDERESTIMATE “HIM”.

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