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Fri May 11, 2012, 06:10 PM

Spanish banks forced to raise extra 30bn euros capital

Source: BBC

The Spanish government is to force its banks to take on an extra 30bn euros ($39bn; 24bn) of capital to cushion themselves against loans going bad.

The banks will have to raise the money or borrow from the government at an annual interest rate of about 10%.

The government said it was determined to take the necessary measures to restore credibility and trust to the financial system.

Earlier in the week, the Spanish government took a 45% stake in Bankia.

Read more: http://www.bbc.co.uk/news/business-18031324

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Reply Spanish banks forced to raise extra 30bn euros capital (Original post)
muriel_volestrangler May 2012 OP
Ian David May 2012 #1

Response to muriel_volestrangler (Original post)

Fri May 11, 2012, 08:37 PM

1. NO ONE expects The Spanish Extra 30 Billion Euros! n/t

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