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   
  • Investors flee Spain as financial crisis spirals
    At the centre of the banking storm, Bankia ... banks, CatalunyaCaixa, NovacaixaGalicia and Banco de Valencia, could need another 30 billion euros in public funds to meet new regulations. Yet another lender, Banco Popular, whose bonds have been downgraded ...
    05/18/2017 - 1:00 pm | View Link
  • Spain enters danger zone as yields near 7%
    Demonstrators shout slogans in front of a Bankia bank branch during a demonstration ... to ask last week for a European Union bailout of up to 100 billion euros ($125 billion) to shore up its banks. The mix of bad news helped send Spanish borrowing costs ...
    06/13/2012 - 8:51 pm | View Link
  • 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 ...
    06/9/2012 - 6:24 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 - 1:00 pm | View Link
  • 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.
    05/25/2012 - 3:13 pm | View Link
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  • Bankia
    Bankia (Spanish pronunciation: ) is a Spanish bank that was formed in December 2010, consolidating the operations of seven regional savings banks. Formerly a private ...
    05/21/2017 - 2:56 pm | View Website
  • 2008–16 Spanish financial crisis
    House ownership in Spain is above 80%. [23] The desire to own one's own home was encouraged by governments in the 60s and 70s, and has thus become part of the Spanish ...
    11/27/2012 - 6:57 pm | View Website
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