Spain's Economic Turmoil Camouflages Bank's True Potential
By Caiman Valores:The Spanish banking system is teetering on the edge of collapse as the true extent of toxic loans to property developers and speculators grows leaving some of Spain's largest banks insolvent. This is placing an incredible burden on an already deeply troubled economy leading to speculation that the Spanish government will not be able to keep these banks afloat without an external aid package. This has seen investors hastily make for the exit with increasing capital flight and a spectacular sell down of Spanish banking stocks.This affected Banco Bilbao Vizcaya Argentaria (BBVA), where like its larger Spanish peer Banco Santander (STD), investors are unable to see past the economic turmoil engulfing Spain and they have headed for the exists sharply selling down it shares. As a result for the year to date BBVA's ADRs alone are down by over 30%. But not all Spanish banks are created equal andComplete Story »
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