BANKIA 4

BANKIA : THE SPANISH RECAPITALIZATION PLAN TURNED DOWN BY ECB.

THE SPANISH RECAPITALIZATION PLAN FOR 19 BILLION EUROS IN CONNECTION WITH PROPERTY BAD LOANS HAS JUST BEEN REJECTED BY ECB AS SPAIN IS FACING SKY-ROCKETTING BORROWING COSTS IN THE BOND MARKETS.

PROPERTY BAD LOANS IN THE SPANISH  BANKING SYSTEM ARE TOTALLING 180 BILLION EUROS SO FAR.

OUR QUOTE OF THE DAY  : « I HAVE ALWAYS BELIEVED THAT IT’S IMPORTANT TO SHOW A NEW LOOK PERIODICALLY. PREDICTABILITY CAN LEAD TO FAILURE » – T. BOONE PICKENS, Jr., ibid

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