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   
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    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
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  • Eurozone crisis live: Fitch hits Spain with 3-notch downgrade
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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 €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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