Today's Coming Crisis Movie

Sunday, June 3, 2012

Crunch Time As Focus Shifts To Spanish Banks

Madrid will this week replace Athens as the focus of European efforts to save the euro after Spain bungled attempts to bail out its fourth-largest bank.

Until recently, uncertainty over the Greek elections had held the attentions of Europe's politicians - but now the future of the single currency could rest on Spain deciding how to rescue Bankia from a 23.5bn-euro hole in its accounts and whether more banks need assistance.

Bankia's troubles stem from toxic property assets left to it following the collapse of the country's housing market. Read More