It’s not looking good for the Spanish banking system. Standard & Poor’s just slashed the credit ratings of five banks and said the country is headed into a double-dip recession. One of them, Bankia, just asked the government for 19 billion euros in aid - a roughly $23.8 billion boost.

Topics:  it&rsquo   standard   poor&rsquo   bankia   banks   billion euros in aid   
BING NEWS:
  • Spain, U.S. data drag on Europe stocks
    The country's government will borrow as much as 100 billion euros ($123 billion ... t solve anything right away,” she added. Spanish banks, such as Banco Popular Español SA (POP), off 7.1%, and Bankia SA (BKIA) 8.7% lower, attracted market attention ...
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  • Preparations underway for Spain bank bailout
    The euro zone bailout fund, the European Financial Stability Facility (EFSF), has sufficient capital to meet Spain’s immediate requirements to capitalise the distressed banks ... of last month 19 billion euros to avert bankruptcy. Bankia had already ...
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  • Spain WILL ask for EU bailout tomorrow… making it the fourth country to do so in eurozone crisis
    Eurozone leaders due to hold crisis talks tomorrow morning News comes a day after Spain's credit rating was downgraded David Cameron has said UK will not contribute funds to eurozone bailouts Euro falls and forecasters say it could hit seven-year lows by ...
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  • More bad news for Spain: Five banks downgraded
    Bankia, one of the downgraded banks, has just asked the government for 19 billion euros in aid, or roughly $23.8 billion boost. Analysts worry that economies and markets now are so intertwined that the emerging slowdown will further weaken economic ...
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  • Spain's Bankia seeks 19bn-euro bailout from government
    Spain's fourth-largest bank, Bankia, has asked the government for a bailout worth 19bns euros ($24bn ... Spain's credit rating was downgraded by S&P last month on the basis that it would probably have to take on more debt to support its banks.
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