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   
  • 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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  • Spain Seeks $125 Billion Bailout as Bank Crisis Worsens
    June 9 (Bloomberg ... Fitch Ratings downgraded Spain to BBB, within two steps of non-investment grade, on June 7 and said the cost to the state of shoring up banks may amount to as much as 100 billion euros in the worst case, compared with its previous ...
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  • Eurozone crisis live: Fitch hits Spain with 3-notch downgrade
    5.43pm: Breaking news - Fitch has just downgraded Spain to BBB ... with healthier Spanish banks providing much of the difference. "The capital shortfall for the Spanish banks will be around 40 billion euros after taking into account the capacity from ...
    06/7/2012 - 7:59 am | View Link
  • 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 ...
    05/26/2012 - 9:00 pm | View Link
  • Spain's Bankia seeks €19 billion bailout
    The board of directors of Spain's troubled bank, Bankia SA, has said it has agreed to ask for €19 billion in state funds ... credit rating agency Standard & Poor's downgraded Bankia and four other Spanish banks to junk status because of uncertainty ...
    05/25/2012 - 1:00 pm | View Link
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