MADRID (Reuters) - BFA, the parent group of nationalized Spanish bank Bankia , said on Monday it had restated its 2011 results to reflect a 3.3 billion euro loss, rather than a 41 million euro profit, following a bailout from the state.
BFA, the parent group of nationalized Spanish bank Bankia , said on Monday it had restated its 2011 results to reflect a 3.3 billion euro loss, rather than a 41 million euro profit, following a bailout ...
Five days ago we heard from the Bank of Spain that Spanish banks only need between €16bn and €62bn in new capital.
For details, see Laugh of the Day: Stress Tests Show Spanish Banks Only Need Between €16bn and €62bn in New Capital; ECB to Accept BBB- Rated Debt (One Step Above Junk) as Collateral
MADRID (Reuters) - European authorities will transfer 35 billion euros to Spain's state bank rescue fund on December 15 in exchange for massive layoffs at Spain's four nationalized banks, including state-rescued Bankia , El Pais newspaper reported on Sunday. The cash injection from European bailout funds will be disbursed to troubled Spanish banks two weeks after it is paid into Spain's bank restructuring fund, or FROB, the paper said. Bankia, which sought a 23. ...
The implosion in Spanish banks continues. On Wednesday, Spain nationalized BFA, the 8th nationalization since the start of the crisis.
After sinking 3 billion into CatalunyaCaixa, Spain tried to privatize the mess but there were no offers at zero euros. Clearly CatalunyaCaixa bank is worth less than zero.
Meanwhile Der Spiegel reports "Bundesbank has no idea of what is happening in Spanish banks". Mish readers do. The Spanish banking system is without a doubt bankrupt.
Let's take a look at half a dozen articles courtesy of Google Translate.