Spain Weighing a Fast, Costly Cleanup of Banks – WSJ.com<\/a>.<\/p>\nColin Twiggs: ~ Spain faces the same tough choice as the Irish: rescue its banks, by putting its own finances at risk, or endure a massive recession as the banking system implodes and the flow of credit dries up. The first choice may be the least painful but will mean many years of austerity in order to bring government debt back below 60% of GDP.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to analysts at Morgan Stanley, Spain could acquire the entire \u20ac176 billion pile of impaired real-estate assets at the 58% discount applied by Ireland’s bad bank, or a cost of \u20ac73.9 billion. This could be funded by swapping new government debt for the banks’ soured real-estate assets. However, the state would have to raise … <\/p>\n
Continue reading “Spain Weighing a Fast, Costly Cleanup of Banks – WSJ.com”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33],"tags":[381,962,1295,3194],"class_list":["post-2566","post","type-post","status-publish","format-standard","hentry","category-uk-europe-countries-regions","tag-banks","tag-debt-crisis","tag-euro-zone","tag-spain"],"yoast_head":"\nSpain Weighing a Fast, Costly Cleanup of Banks - WSJ.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spain Weighing a Fast, Costly Cleanup of Banks - WSJ.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"According to analysts at Morgan Stanley, Spain could acquire the entire \u20ac176 billion pile of impaired real-estate assets at the 58% discount applied by Ireland’s bad bank, or a cost of \u20ac73.9 billion. 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Wednesday's loans were on top of the \u20ac489 billion of similar loans the ECB dispensed to\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1589,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/26\/euro-zone-talks-hit-roadblocks-wsj-com-2\/","url_meta":{"origin":2566,"position":1},"title":"EU Forges Greek Bond Deal – WSJ.com","author":"ColinTwiggs","date":"October 26, 2011","format":false,"excerpt":"French President Nicolas Sarkozy said after the marathon negotiating session that the leaders had reached agreement with private banks on a \"voluntary\" 50% reduction of Greece's debt in the hands of private investors. 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The outflow has resulted from domestic banks sending money abroad, foreign lenders pulling\u2026","rel":"","context":"In "UK & Europe"","block_context":{"text":"UK & Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2289,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/22\/eu-banks-struggle-to-attract-deposits-wsj-com\/","url_meta":{"origin":2566,"position":3},"title":"EU Banks Struggle to Attract Deposits – WSJ.com","author":"ColinTwiggs","date":"November 22, 2011","format":false,"excerpt":"Deposit levels at five of Spain's top six banks declined in the third quarter, while five of Italy's largest lenders also reported declines, according to a report by analysts at Citigroup. In some cases, individuals pulling their money out of a bank are instead buying the bank's bonds, which have\u2026","rel":"","context":"In "UK & Europe"","block_context":{"text":"UK & Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":893,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/21\/imf-urges-european-banks-to-raise-capital-wsj-com\/","url_meta":{"origin":2566,"position":4},"title":"IMF Urges European Banks to Raise Capital – WSJ.com","author":"ColinTwiggs","date":"September 21, 2011","format":false,"excerpt":"European banks face about \u20ac300 billion about $409 billion in potential losses from the euro-zone debt crisis, the International Monetary Fund said Wednesday as it urged banks to raise capital to protect the global economy from more turmoil.The fund said fiscal strains emanating from weaker euro zone members have had\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4726,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/29\/debt-crisis-germany-caves-in-over-bond-buying-bank-aid-after-italy-and-spain-threaten-to-block-everything-telegraph\/","url_meta":{"origin":2566,"position":5},"title":"Debt crisis: Germany caves in over bond buying, bank aid after Italy and Spain threaten to block 'everything' – Telegraph","author":"Colin Twiggs","date":"June 29, 2012","format":false,"excerpt":"Bruno Waterfield: On Thursday night, Italy and Spain plunged an EU summit into disarray by threatening to block \u201ceverything\u201d unless Germany and other eurozone countries backed their demands for help......Under the deal, Spanish banks will be recapitalised directly by allowing a \u20ac100 billion EU bailout to [be] transferred off Spain\u2019s\u2026","rel":"","context":"In "UK & Europe"","block_context":{"text":"UK & Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=2566"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2566\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=2566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=2566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=2566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}