Blogging from the Highlands of Scotland until I return to the Murcia region of Spain
in the Autumn for a month or so

'Fair and softly goes far' - Miguel de Cervantes

Saturday, 16 July 2011

Five Spanish banks fail European "stress tests"

Five out of the eight banks (out of ninety across Europe) which have failed the European banking "stress tests" are in Spain; the other three are in Greece and Austria.

The five Spanish banks which have failed to meet the "stress test" criteria are:
- CAM Bank;
- Banco Pastor;
- Caja3;
- Unnim;
- CatalunyaCaixa;

with CAM Bank being classified the most-seriously affected of the five. However, as I wrote here, CAM Bank is effectively being taken under state control so its fate is now intimately tied-in with the fate of the overall Spanish economy and its perceived "sovereign" creditworthiness. See alo this BBC report.

Highly worrying, even if one has no alternative but to hope that Spain will not [be allowed to] go the same way as Greece!

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