Spain’s defense minister María Dolores de Cospedal likened the plot to a coup d’état… Read More Catalonia Threatens Spain with “Financial Bloodbath”
Spain’s 6th largest bank: “We have liquidity until the end of the year”… Read More Hit by Run on Deposits, Banco Popular Denies it’s Looking for Rushed Takeover to Avert Collapse
Taxpayer-funded subsidies to benefit banks, real estate agencies, construction companies, PE firms, and landlords.… Read More Spain’s Government Presses Property-Bubble Rewind Button
True to form, Prime Minister Mariano Rajoy continues to say nothing on the matter. But his silence may soon be broken… Read More Corruption Scandals Already Trip Up Spain’s New Government
Investment bank Mediobanca warns of “clear risk of contagion”… Read More Just How Safe is Spain’s Banking System?
The proportion of children living below the poverty line in Spain has increased by 9 percentage points between 2008 and 2014, to reach almost 40%… Read More 40% Of Spanish Children Live In Poverty
It brings buckets of money, but what are the consequences?… Read More Is Barcelona’s Crazy Tourist Boom Too Much of a Good Thing?
The future continues to look bleak for Spain’s most Italian bank, Banco Popular, which ironically once bore the slogan “Our Past and Our Present Guarantee Our Future”… Read More Spain’s Most Italian Bank Still “Solvent,” Apparently
Rarely heard in association with senior central bankers and financial regulators are words or expressions like “accused”, “charged” or “under investigation.” But in Spain this week a court broke with that tradition, in emphatic style.… Read More The Unthinkable Just Happened in Spain
Once again, the outside world is being reminded, no matter how briefly, about Catalonia’s national aspirations and the central government’s increasingly repressive efforts to thwart them.… Read More Kamikaze Economics with Slow-Motion Debt Crash
“We probably have the best mortgage system in the world,” explained Francisco González, Executive Chairman of Spain’s second largest bank, BBVA, last week at the annual World Economic Forum in Davos. All seemingly said with a straight face.… Read More Spain’s Banks Openly Flout Law Like Never Before
More bad news for a bank that continues to drown in its own toxic soup eight years after the burst of Spain’s mind-boggling real estate bubble.… Read More UBS Warns: Spain’s “Most Italian Bank” Runs Out of Options