Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Spanish Banks Downgraded

Recommended Posts

http://www.bloomberg.com/news/2011-03-24/moody-s-downgrades-30-spanish-banks-maintains-ratings-for-santander-bbva.html

Spanish Banks Downgraded by Moody's Amid Review of Possible Government Aid
By Charles "Chuck" Penty and John Glover - Mar 24, 2011 5:13 PM GMT
Thirty of Spain’s smaller banks had their senior debt and deposit ratings downgraded, as Moody’s Investors Service reviews whether governments are willing to support all their lenders in a crisis.
Citing heightened financial pressure on the country’s sovereign rating and “many weak banks,” the New York-based ratings firm cut 15 lenders by two levels and five by three or four, according to a statement today. The outlook on most banks’ senior and deposit ratings remains negative, Moody’s said.
“It seems increasingly plausible that hard choices will need to be made at some point over the rating horizon, balancing the sovereign’s incentive to support the banks with the need to protect its own balance sheet,” Moody’s said in the statement. “It is, in Moody’s view, increasingly likely that the sovereign will not be prepared to write all banks a blank check.”

Ireland's econmy contracting 1.6%, Portugal in political chaos as a bailout looms and now Spain is back in the frame.

Does not bode well for the Euro once the contrarian market turns more fundementals driven.

Share this post


Link to post
Share on other sites
Guest spp

Ireland's econmy contracting 1.6%, Portugal in political chaos as a bailout looms and now Spain is back in the frame.

Does not bode well for the Euro once the contrarian market turns more fundementals driven.

Just the EURO?

Wake up and smell the coffee!

Ag, 47

Edited by spp

Share this post


Link to post
Share on other sites

Just the EURO?

Wake up and smell the coffee!

Ag, 47

Its all about relativity. Or, it all depends of the pair you are playing.

The Euro will probably not have a good year again this year as it seems obvious that the bond markets will hike the IR for all of the PIIGS making it more likely that Germany will hjave to bail them out--us too, no doubt.

It seems that the contrarian market is fading and we are getting back to some good fundamentals driven numbers.

Bad news = sell. Whereas before, bad news was a buy and freally bad news was a stronger buy.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.