RSS Feed
May 25th, 2012 
FAKE NEWS for the Zionist agenda - Shares suspended as bank bosses decide how much money it needs to ask for
By
Hugo Duncan
07:10 EST, 25 May 2012
|
18:03 EST, 25 May 2012
The financial hurricane battering the eurozone hit Spain last night amid fears over its banking system and the solvency of its wealthiest region.
Trading of shares in troubled Spanish lender Bankia were suspended yesterday ahead of a potential £15 billion government bailout to save it from collapse.
The bank, the fourth biggest in Spain, was plunged into crisis by heavy losses stemming from the 2008 property crash.
Plea: Spanish high street bank Bankia, which was part-nationalised just two weeks ago, is this weekend expected to ask Madrid for a ¿15billion bailout
It was created from the merger of seven regional banks, or cajas, that were deemed too weak to stand alone.
Two weeks ago, it was part-nationalised by the Spanish government because of property debts.
But financial concerns have continued to plague it and the price of its shares has fallen more than 50 per cent since they went public last July.
One London-based analyst said the government’s handling of Bankia had undermined confidence in whether the £15 billion rescue package would cover losses.
‘Whatever they say, people are going to think it’s not enough,’ said the analyst. ‘The process has been going on for so long.’
Struggling: Bankia, Spain’s fourth largest bank, has been the worst-hit organisation and holds ¿32billion in such toxic assets
The leader of Catalonia – Spain’s wealthiest autonomous region – added to the gloom with a plea for financial help from central government in Madrid.
‘We don’t care how they do it, but we need to make payments at the end of the month,’ said Catalan president Artur Mas. ‘Your economy can’t recover if you can’t pay your bills.’
Catalonia represents a fifth of the Spanish economy but needs to refinance more than £10 billion of debt this year. Analysts warned that the rescue bill will tip the country deeper into crisis.
‘We don’t care how they do it, but we need to make payments at the end of the month. Your economy can’t recover if you can’t pay your bills’
Catalan president Artur Mas
It came amid even more concerns over the single currency. The euro tumbled once again – to below 80p against the pound and $1.25 versus the US dollar – as fresh worries about Madrid spooked investors.
There were reports that German Chancellor Angela Merkel is secretly drawing up a six-point rescue plan for Greece that is similar to the way East Germany was modernised after the fall of communism.
The German leader’s proposals include privatisations and sweeping reforms of employment laws, but they look set to put Berlin on a collision course with new socialist French President Francois Hollande.
It is also likely to provoke outrage in Greece, where critics will see it as an attempt to make the country behave more like Germany.
But a leading politician in Belgium warned that it would be a ‘grave error’ not to prepare for financial disaster in Greece, including its exit from the eurozone.
Belgian finance minister Didier Reynolds said Europe must prepare for Greece to leave the euro to prevent the crisis engulfing other countries such as Spain, Italy and Portugal.
‘There is no organised discussion at European level along the lines of what do we do if Greece leaves,’ he said. ‘Now, if central banks and companies are not preparing for the scenario, that would be a grave professional error.’
-
How the Wild West REALLY looked: Gorgeous sepia-tinted…
-
Parents’ outrage after girl flashes her naked crotch under…
-
Man goes to hospital with a kidney stone… and discovers…
-
Millionaire on the run: How the man who founded software…
-
Beautiful flowers? Look a little closer and you’ll see these…
-
When skydiving goes very wrong: Pensioner, 80, left hanging…
-
Honour student who works two jobs to support her siblings…
-
Casey Anthony ‘piles on the pounds after months of sitting…
-
Meet Ridiculously Photogenic Girl! 28-year-old ICU patient…
-
Loyal until the very end: Bin Laden’s wives still refusing…
-
Robert Kennedy Jr ‘had an affair with jilted wife of his…
-
Thanking his drug dealer in his yearbook and inventing the…
Share this article:
Here’s what other readers have said. Why not add your thoughts,
or debate this issue live on our message boards.
The comments below have not been moderated.
-
Newest -
Oldest -
Best rated -
Worst rated
good idea – Dave, Spain, 25/5/2012 16:00 we in the Uk own most of then banks now.
Report abuse
The photo of the Bank above looks like the Leaning Tower of Pisa. This is the beginning of the end of the EU. The euro was supposed to be an experiment it failled to produce results, but politicians will remain in denial. I hope the Spanish will show their frustrations at their next elections.
Report abuse
“€15BILLION bailout” Of course, whatever is needed. The big kahunas have to get their golden parachutes, right? Meanwhile the banks are still not lending money to enterpreneurs ,small business, citizen, and, of course, another credit institutions . What on earth the European Central Bank gave the money for? They’d rather place in low interest ECB diposits to ensure the money was ‘busy’. Welcome to EuroLand…
Report abuse
The banks are loving this….excuse after excuse to rip money out of the tax payers……thats all we are to them now and they know they can get away with it…IT IS PURE THEFT and the governments know it they are aiding and abetting them…wake up this is not funny and where are the men who should be screaming no more of this scam.
Report abuse
the spanish government should not put even a euro. If you fail you fail, that will teach the banks to be more responsible with their actions next time. The same applies for the UK. 15bn is not small change, not even a euro of public money should go to the greedy bank pigs.
Report abuse
Give the money straight to the people and let the banks fail!
Report abuse
If the Spanish government have any sense at all, they will guarantee the deposits but let the bank go bust and nationalise it when it is worth zero. The only losers will be shareholders. Why didn’t our government do the same? Shareholders in the banks have their feet under the cabinet table and a ramrod up the backs of our gutless feeble politicians who won’t say boo to an RBS goose!
Report abuse
I see a lot of respect for Spain in these article and in the comments. Thank you.
Report abuse
Terry Twelve Pints may well be right.
Report abuse
Terry Twelve Pints may well be right.
Report abuse
The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
Posted in 
Tags: 
