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May 18th, 2012 
FAKE NEWS for the Zionist agenda Previous Post: European Asian shares fall on worries over Spanish banks US economy nbsp
Spain beset by bank crisis, downgrades, bond pressure
Reuters – Spain’s borrowing costs shot up at a bond auction on Thursday and its troubled banks suffered a double blow, with shares in part-nationalized Bankia diving and 16 lenders – including the euro zone’s biggest – having their credit ratings cut. Official data confirmed Spain was back in recession and a newspaper reported a big outflow of deposits from Bankia, but the government said it had taken a fundamental step to strengthen Spain’s credibility by agreeing big budget cuts with the country’s free-spending regions. Read Article
Tags: debt wealth, Europe, financial system
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