Monday, May 24, 2010
Cajasur - "heavily exposed to the collapse in Spain's property market"
BBC business: Cajasur bail-out hits Spanish bank shares
Shares in Spanish banks fell on Monday following the government bail-out of one lender over the weekend. Shares in Santander were down 1.25%, while lenders BBVA and Banco Popular were also down 2% and 1.3% respectively. On Saturday Spanish bank Cajasur - one of Spain's largest regional lenders - was taken over by Spanish authorities after running into trouble.
Posted by jack c @ 01:20 PM (443 views) Add Comment
1 Comment
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1. enuii said...
Interesting to note that all the major news providers are stating that Spain is not like Greece with the BBC in particular stating that Spains defecit is 11% against the Greeks 13.6% yet Spanish unemployment is over 20% with Greeces a relatively modest 12.1%.
To be brutally honest there does not really appear to be much difference between the two defecits and Spain appears to be potentially worse if their unemployment figures remain above 20%.