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EU: Spain Banks Will Be Monitored
Keywords:
Speaking to Cadena Sur, a Spanish radio network, EU Commission Vice President, Joaquin Alumnia said the EC will have plans to monitor the restructuring of each bank that gets EU funds. He said: "Whoever gives money never gives it for free. There will be people coming to Spain to make sure the money will be properly used."
Bad loans in Spain's banking system from the housing bubble
04/04/2009
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Wall Street Journal 09/28/2011
The Pain in Spain Falls Mainly on the Cajas
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Spain's Banks Boost Books by Refinancing Loans to Homeowners
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Spanish House Prices Decline Again
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Spain Still Suffering Fallout From Housing Bust
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Europe's preparation for Greece's exit from the euro 2011-2012
04/19/2010
Germany would lose $127 billion or 3% of GDP, and France about $50 billion or 3% of its GDP if Greece exited the eurozone. The concern about orderly acceptance of the exit without affecting Spain and Italy in financial markets remains.
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Weber Sees Greece Needing More Aid
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New York Times 05/26/2010
‘Grexit’ Could Happen by Accident
Wall Street Journal 01/12/2015
A Greek Exit? Euro Zone May Be Ready
New York Times 05/17/2012
Wall Street Journal 05/18/2012
Cost of Losing Athens Can't Be Calculated
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Rescue of Spain's banks with a $125 billion committment from the European Financial Stability Facility (EFSF)
02/25/2010
EU finance ministers persuaded Spain to borrow from the EFSF and place the money in a special fund intended to recapitalize its banks. The IMF will provide some oversight over the banks but no conditions or oversight will be imposed on Spain only on its banking system as a compromise. Problems in the banking system arise from a housing bubble in Spain and failing cajas savings banks. Spain has already committed to adhering to fiscal deficit targets on a longer term basis with the EU. This makes it a rescue of the banks more than a bailout of the kind deisgned for Greece, Ireland and Portugal.
Grouped Articles
Wall Street Journal 08/08/2011
A Warning Light to Alert the I.M.F.
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Economist 05/29/2010
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Spain requests bailout help - The Washington Post
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The urgency for recapitalization of European banks in 2011-2015
07/13/2011
EU banks face potential losses of 300 billion euros from troubled EU countries. 120 billion euros from Italy, Spain and Belgium, 60 billion euros from Greece, 20 billion euros from Ireland and Portugal, and $100 billion euros from other banking exposure, accordig to the IMF. IMF managing director, Christine Lagarde, has pointed to the urgent need for recapitalization of European banks,urgently because restricted lending by EU banks in the absence of recapitalization could further damage the economies of EU countries.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Bank of Italy Inspecting Top Lenders' Books
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Central Bank Details Somber State of Europe’s Banking System
New York Times 10/13/2014
Wall Street Journal 07/04/2015
The Banker Who Is No Longer Welcome in Restaurants
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Italy Agrees on Fund to Support Battered Lenders
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Spain's prime minister Mariano Rajoy's handling of the economic and banking crisis in Spain
09/28/2011
Rajoy's history cautiously embracing politics as Spain emerged from the Franco era, his father's advice to avoid politics after the searing experience of his grandfather in Galicia, the early years in Pontevedra, Galicia, and regional pride in Galicia, are described in Rajoy's book "En Confianza." Regional pride and the European experiment appear to be intertwined, just as Germany would like to see its political entity merged with a European entity, Spain would like to see its political entity merged with the European entity, because of a searing interwar period. Rajoy would genuinely like to see the European experiment go forward as he made the decision to accept EU aid.
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Wall Street Journal 09/28/2011
Spain Emerges From Recession but Sees More Austerity Ahead
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Mariano Rajoy of Spain Steps Up in Debt Crisis
New York Times 06/10/2012
EU: Spain Banks Will Be Monitored
Wall Street Journal 06/11/2012
Spain's Handling of Bankia Repeats a Pattern of Denial
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Spain's banks and housing construction in 2011-2012
02/25/2010
Continued construction in housing suported by Spanish banks in 2011-2012. This is happening when a huge inventory of residential units estimated by some analysts at over 1 million remains unsold. It could further dampen home prices.
Grouped Articles
The Pain in Spain Falls Mainly on the Cajas
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Spain Spells Out Latest Plan to Bolster Health of Lenders
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Wall Street Journal 02/08/2012
Spain and default on residential mortgages
02/25/2010
The housing market and banks in Spain, and the extensive system of mortgage modification in place to mitigate housing losses.
Grouped Articles
The Pain in Spain Falls Mainly on the Cajas
BusinessWeek 02/25/2010
Spain's Banks Boost Books by Refinancing Loans to Homeowners
Wall Street Journal 11/07/2013
Leading the Charge Against Spainâs Mortgage Crisis
New York Times 12/20/2013
Spain Still Suffering Fallout From Housing Bust
Wall Street Journal 05/28/2014
Tumbling Interest Rates in Europe Leaves Some Banks Owing Money on Loans to Borrowers
Wall Street Journal 04/14/2015
Wall Street Journal 12/17/2010
Spain's Caixabank
04/19/2012
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Caixabank Profit Tumbles on Property Provisions
Wall Street Journal 04/19/2012
Wall Street Journal 04/19/2012
Cost of Spainâs Housing Bust Could Force a Bailout
New York Times 04/24/2012
Spain Readies New Push to Shore Up Banks
Wall Street Journal 05/08/2012
Spain's Bank-Investor Ties Stir Worry
Wall Street Journal 05/09/2012
On Banks, Spain Again Fails to Take the Bull by the Horns
Wall Street Journal 05/13/2012
Initial public offering planned for Spain's Bankia bank
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Efforts to recapitalize Spain's savings banks.
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Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Investors in Bankia to Sue Bank of Spain Over Losses
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Spain's Bankia Returns to Profit
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Spain Launches Privatization of Bankia
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A Former IMF Leader Tackles IPO Challenge
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In Spanish, Bankia Starts Wooing IPO Investors
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Britain, Sweden, Spain and Basel III capital reserve requirements for banks
01/21/2010
Britain, Sweden and Spain oppose the dilution of capital reserve requirements for European banks through a broad definition of what constitutes Tier 1 capital. Germany, France and some other European countries favor a loose definition of Tier 1 capital. The systemic risks of lower reserve requirements and loose definitions of Tier 1 capital in a global banking crisis and the danger to taxpayers.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
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The Battle Over Bank Rules at Basel III
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Basel Rules Unlikely to Force Capital Raising
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Wall Street Journal 09/14/2010
Cost of Greece's exit from the eurozone for France and Germany and indirect costs for Italy and Spain in 2012
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Berlin Denies Suggesting Greek Membership Vote
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Spain's Bankia bank
10/02/2010
The consolidation of a number of Spanish savings banks under government direction led to the creation of Bankia, Spain's third largest bank. Efforts to recapitalize these banks which have large accumulated large debt from the real estate boom is part of the Spanish government's effort to tackle the debt crisis facing Spain. Rodrigo Rato, a former finance minister and managing director of the IMF, heads Bankia and the effort to restore confidence in Spain's banking system.
Grouped Articles
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Spain Launches Privatization of Bankia
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About 60% of the economy and 80% of the jobs in Spain are with small and medium sized business. The consolidation of banks is leading to loss of local contact. The need to build capital reserves to cover bad loan losses means banks are calling in loans to these businesses. This is happening in smaller towns and cities across Spain, and will worsen the already high 25% unemplyment rate. The credit squeeze is hurting the recovery.
Grouped Articles
Europe’s credit crunch: Mend the money machine
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Spain's Cajas savings banks
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Grouped Articles
Spanish Banks More Vulnerable Than Italy's
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Spain's banks
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Grouped Articles
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Loan Growth Suffers at Spanish Banks
Wall Street Journal 11/13/2015
Spain to Approve Cajas Regulatory Overhaul
Wall Street Journal 07/09/2010
Crisis Awaits Worldâs Banks as Trillions Come Due
New York Times 07/11/2010
Spain's cleanup of bad bank assets under prime minister Rajoy in 2012-2013
09/28/2011
Grouped Articles
Wall Street Journal 09/28/2011
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
Spain Weighing a Fast, Costly Cleanup of Banks
Wall Street Journal 12/07/2011
Why European Banks Are Sacrificing Growth
BusinessWeek 12/15/2011
Spain's Rajoy Takes Aim at Deficit
Wall Street Journal 12/20/2011
A Central Bank Doing What Central Banks Do
New York Times 12/21/2011
Spain's troubled banks- Caja de Ahorros del Mediterraneo
03/11/2011
Grouped Articles
Spain Faces Short Buyers List For Troubled Caja
Wall Street Journal 09/07/2011
Wall Street Journal 09/28/2011
Criticism of Spainâs Central Bank Grows
New York Times 10/20/2011
Spain Weighing a Fast, Costly Cleanup of Banks
Wall Street Journal 12/07/2011
The Real Threat Facing Spanish Lenders
BusinessWeek 11/23/2011
Spain’s banks: Horns of a dilemma
Economist 01/07/2012
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