Daily Archives: June 12, 2012

The Doors of the Spanish Banks Crisis

  by Richard Bayston     In the days before the announcement of the bailout of Bankia at taxpayer expense, Spain was looking anxiously through three open doors that in any case will no safe the property market.   Behind one of them was the spectre so feared by her politicians: the outright failure of Bankia. Had this happened, it would certainly have both deepened the cr

Bankia Crashes, Spanish Taxpayer Picks Up the Wreckage

  by Richard Bayston     Bankia’s declaration of bankruptcy at the end of May can now be seen as the final step of the slide of the Spanish banking system into complete dependence on the State… and the State asking for funds to the EU.   Just like RBS in Britain, and just like the events of 2010 in Ireland, the State has stepped in to support the collapsing financial