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Bank Of Spain source says the second, more detailed audit of Spanish banks has been delayed...

Bank Of Spain source says the second, more detailed audit of Spanish banks has been delayed until September from July. (via)
Comments (6)
  • bbro
    , contributor
    Comments (9732) | Send Message
     
    Weak....
    19 Jun 2012, 04:27 AM Reply Like
  • Richard93
    , contributor
    Comments (817) | Send Message
     
    Either the paperwork is a horrible mess or its worse then thought and they are holding the release to make sure what gets put out to the public is right. There in a deep hole already this could make things a lot worse just from a P.R. point of view. Going down the drain taking lots of people & money with them.
    19 Jun 2012, 05:52 AM Reply Like
  • sr1977
    , contributor
    Comments (336) | Send Message
     
    Most sources say they need at least 140 billion - 40 billion more than last weeks bailout/loan. JPM says it is more like 350 billion.

     

    June 9: "The loan will be scaled to provide an effective backstop covering for all possible capital requirements ... with an additional margin of safety up to €100B in total..."

     

    Right now the markets probably could not handle the truth of what a detailed audit would show...by Sept. things will be so bad that todays figures will look "OK".
    19 Jun 2012, 06:20 AM Reply Like
  • bbro
    , contributor
    Comments (9732) | Send Message
     
    http://bit.ly/MKcTUF
    19 Jun 2012, 07:33 AM Reply Like
  • Econdoc
    , contributor
    Comments (2944) | Send Message
     
    idiots
    naive idiots
    these guys just do not get it
    E
    19 Jun 2012, 07:56 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Postpone.....I have to admit..I would not want to be the accounting firm doing this.....you will be held liable...so you better get it close...and I am sure they have no idea with the books....this is real estate..not a widget..Accountants do not know real estate!!!!! But this news will add several hundred basis points to thier interest rates paid...Spain is toast.....and it not 1-200 billion..its probably 1 trillion
    19 Jun 2012, 08:06 AM Reply Like
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