Italian and Spanish stocks extend losses on Wednesday, with banks driving the charge south amid worries that the Cypriot banking crisis could spread to other euro-zone countries.
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The Catholic Primate of Spain has called for a profound shift in Europe's debt crisis policy to avert social collapse, warning that soaring unemployment in Spain and across southern Europe has become "very dangerous".
(7 days ago)
Europe's crisis-fighting measures broke new ground in Cyprus, where for the first time holders of banks' supposedly safest bonds will be forced to take losses—a step that could unnerve investors in these types of bonds at weaker banks in the region.
(1 month and 24 days ago)
Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky, the Wall Street Journal and many others say that our entire economy is a Ponzi scheme. Former Reagan budget director David Stockton just agreed: So did a top Russian con artist and mathematician. Even the New York Times’ business page asked, “Was [the] whole economy a Ponzi scheme?” In fact –...
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THE European Commission says Spain needs no more bailout money to fix its financial system.
(2 months and 16 days ago)
NEW YORK (TheStreet) -- Popular searches on the Internet include LTROs, or long-term refinancing operations, after news that banks in Europe will pay back much less of the expected amount of crisis loans they borrowed from the European Central Bank a year ago. Banks will repay the ECB €61.1 billion ($80.8 billion) in the second of two three-year loans they took out. The ECB...
(2 months and 27 days ago)
Anyone who wants to get an inside look at both the European banking system and the politicians in charge of fixing it need to only look at Spain’s Bankia. Bankia was formed in December 2010 by merging seven totally bankrupt Spanish cajas (regional banks that were unregulated). The bank was heralded as a success story and an indication that European Governments could manage...
(2 months and 27 days ago)
Spain relaxed its standard of conduct for bankers, giving the chief executive of one of Europe's biggest banks a chance to keep his job despite his conviction in a criminal case.
(1 month and 6 days ago)
A few days ago a story was picked up in the international media about the collapse of the Spanish real estate company Reyal Urbis owing banks, businesses and workers $4.75 billion. It is the second biggest filing in Spain since property company Martinsa Fadesa defaulted on nearly $9.5 billion of debt, precipitating the run on Spanish banks in 2008. Every day in Spain there...
(2 months and 24 days ago)
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