"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Spanish Banks Threaten Bail-In To Cover For Their Fiscal Ineptitude
Submitted by A. Magnus on Wed, 2017-06-07 00:00
"Analysts estimate that the bank needs at least €4 billion more capital and it is burdened with a likely insurmountable €37 billion pile of toxic property loans and assets. Banco Popular is Spain’s sixth-largest bank and there is a debate as to whether it is systematically important. It likely is as it has the largest amount of small business customers in Spain. These companies are the backbone of the Spanish economy and now vulnerable to having their deposits over €100,000 confiscated in bank bail-ins."
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