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"Another bazooka" may be necessary for Spanish banks facing deposit withdrawals, sitting on big...

  • Friday, May 25, 2012, 10:02 AM ET
    "Another bazooka" may be necessary for Spanish banks facing deposit withdrawals, sitting on big losses on their government paper holdings, and having €85B of maturing debt in Q2 and Q3. The trouble is banks have little left in the way of collateral for further LTRO borrowing. They need QE, not another LTRO, writes Nomura.
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    Instead of bazooka's they'll need locks to stop the bank runs. Mass Psychology is a very powerful force. Once it starts, it can't be stopped.
    25 May 2012, 10:10 AM Reply Like
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