Spain Cajasur Bank
Published / Last Updated on 22/05/2010
by Ashley Clark, Director
News has emerged that Spain’s Central Bank had to inject €500m into Cajasur over the weekend and has now taken control.
There are now increased worries of the perceived €300bn bad debt problems for Spanish banks, as a result of the property slump in Spain.
Our View: Spain is suffering more than most in Europe as a knock on effect of problems elsewhere. Tourism is suffering severely with the strong Euro and you can see problems escalating. Until Sterling strengthens and jobs are safer, tourist Europe’s problems will continue.
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