Post by jeffolie on Jun 9, 2012 10:58:58 GMT -6
$45B minimum for Spain's banks requested ... gold to rise
$125B max for Spain's banks requested ... Fitch
$45B is small and easy to raise .... 'kick the can past Nov '12 elections'
Obama will push hard on Bernancke to do this.
2013 and/or beyond remains my jeffolie prediction for the EU to implode, re-organized with an emphasis on North Europe (Germany, Sweeden, Denmark, Netherlands, Finland)... 2012 has a 50% chance of implosion.
Will the combined resources bailout Spain?
Most likely yes:
" ... A "bailout lite" would help salve Spanish pride. Spain is the world's 12th largest economy and No. 4 in the euro zone.
METALS Higher, dollar lower
Metals have traded inverse, opposite of the Dollar lately. A bailout will raise metals' prices & lower the Dollar in my opinion ... I do not trade
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Spain's banks need at least 40 billion euros: IMF
Jun 9, 2012
WASHINGTON (Reuters) - Spain needs about 40 billion euros in extra capital injected into several banks to allow them to withstand severe economic conditions, the International Monetary Fund said on Friday.
The IMF said its "stress test" does not include extra capital that it recommends Spain needs as a buffer to cover restructuring costs and loan losses. An IMF official said such a buffer usually would be 1.5 to two times larger to convince markets that Spain has a credible cushion to handle shocks.
In Spain's case, that would bring the size of capital required to stabilize its banking system to as much as 80 billion euros,...
"... Fitch ratings agency said the cost could be between 60-100 billion euros.
www.reuters.com/article/2012/06/09/us-spain-banks-aid-imf-idUSBRE85801120120609
===============================
Spanish bailout could reach 100 billion euros: sources
(Reuters) - A bailout for Spain's teetering banks, once requested by Madrid, could amount to as much as 100 billion euros, two senior EU sources told Reuters on Saturday.
"... The government has already spent 15 billion euros bailing out small regional savings banks that lent recklessly to property developers.
Spain's biggest failed bank, Bankia, will cost 23.5 billion euros to rescue and its shareholders have been wiped out.
" ... A "bailout lite" would help salve Spanish pride. Spain is the world's 12th largest economy and No. 4 in the euro zone. EU and German officials have cited national pride as a barrier to requesting a full assistance programme.
The European Commission and Germany both agreed in principle last week that Spain should be given an extra year to bring its budget deficit down below the EU limit of 3 percent of gross domestic product because of a deep recession. ($1 = 0.8021 euros)
news.yahoo.com/merkel-says-eu-ready-act-spain-downgraded-001000399--business.html
$125B max for Spain's banks requested ... Fitch
$45B is small and easy to raise .... 'kick the can past Nov '12 elections'
Obama will push hard on Bernancke to do this.
2013 and/or beyond remains my jeffolie prediction for the EU to implode, re-organized with an emphasis on North Europe (Germany, Sweeden, Denmark, Netherlands, Finland)... 2012 has a 50% chance of implosion.
Will the combined resources bailout Spain?
Most likely yes:
" ... A "bailout lite" would help salve Spanish pride. Spain is the world's 12th largest economy and No. 4 in the euro zone.
METALS Higher, dollar lower
Metals have traded inverse, opposite of the Dollar lately. A bailout will raise metals' prices & lower the Dollar in my opinion ... I do not trade
=============================
Spain's banks need at least 40 billion euros: IMF
Jun 9, 2012
WASHINGTON (Reuters) - Spain needs about 40 billion euros in extra capital injected into several banks to allow them to withstand severe economic conditions, the International Monetary Fund said on Friday.
The IMF said its "stress test" does not include extra capital that it recommends Spain needs as a buffer to cover restructuring costs and loan losses. An IMF official said such a buffer usually would be 1.5 to two times larger to convince markets that Spain has a credible cushion to handle shocks.
In Spain's case, that would bring the size of capital required to stabilize its banking system to as much as 80 billion euros,...
"... Fitch ratings agency said the cost could be between 60-100 billion euros.
www.reuters.com/article/2012/06/09/us-spain-banks-aid-imf-idUSBRE85801120120609
===============================
Spanish bailout could reach 100 billion euros: sources
(Reuters) - A bailout for Spain's teetering banks, once requested by Madrid, could amount to as much as 100 billion euros, two senior EU sources told Reuters on Saturday.
"... The government has already spent 15 billion euros bailing out small regional savings banks that lent recklessly to property developers.
Spain's biggest failed bank, Bankia, will cost 23.5 billion euros to rescue and its shareholders have been wiped out.
" ... A "bailout lite" would help salve Spanish pride. Spain is the world's 12th largest economy and No. 4 in the euro zone. EU and German officials have cited national pride as a barrier to requesting a full assistance programme.
The European Commission and Germany both agreed in principle last week that Spain should be given an extra year to bring its budget deficit down below the EU limit of 3 percent of gross domestic product because of a deep recession. ($1 = 0.8021 euros)
news.yahoo.com/merkel-says-eu-ready-act-spain-downgraded-001000399--business.html