Why it matters if Greece leaves the eurozone
There are powerful incentives for creditor nations to keep the monetary union together, say analystsBy rights, no one should care much about Target 2. It is an arcane piece of the plumbing in the...
View ArticleKipper Williams cartoon: Bear run on Bankia
Lack of progress over Bankia rescue sent Spanish shares falling again Continue reading...
View ArticleSpain banking crisis – German U-turn on eurozone bailout pot seems a fair bet
Bankia et al can't wait. With a backdoor bailout closed, it is time for Germany to show what it is prepared to do to save the euroHurrah, José Manuel Barroso, president of the European commission, has...
View ArticleHow could Spain's 'secure' banks descend into crisis?
It avoided toxic derivatives and helped to rescue Britain's lenders. But the Spanish banking sector was so laden with property debt that the eurozone's fourth largest economy is near collapseA team of...
View ArticleGermany weighs up federal Europe plan to end debt crisis
Calls for 'banking union' to save euro after Paris and Brussels support Spain's plea for EU rescue of its beleaguered banksEurozone crisis live: G7 emergency talksEurope's leaders appear to be edging...
View ArticleIs it time to buy a holiday home on Spain's 'Costa Catastrophe'?
Spain's struggling banks are setting up English-language websites to sell off their property backlog. But beware: the market may still be fallingIt has been dubbed the "Costa Catastrophe". Hundreds of...
View ArticleSpain to get bank bailout that may run up to €100bn
Country joins Greece, Ireland and Portugal in bowing to need for aid to survive European debt crisisSpain has given up the battle to rescue its ailing banks alone and accepted a European bailout of up...
View ArticleBanks downgraded as size of Spanish crisis revealed
Fifteen of the world's biggest banks downgraded hours after Spain admits its banks might need up to £50bn of bailout moneyMoody's has cut the ratings of 15 of the world's biggest banks, hours after the...
View ArticleBankia board faces investigation over corruption claims
Rodrigo Rato and former Bankia board members face inquiry after claims bailed-out Spanish bank carried out 'massive fraud'The former president of Bankia, Rodrigo Rato, and 32 former members of the...
View ArticleSpain's 99% occupy Madrid against Rato's banking and Rajoy's austerity | Amy...
The M-15 movement is mobilising against the government's swingeing cuts to pay for a eurozone bailout of Spanish banksAs Spain's prime minister announced deep austerity cuts Wednesday in order to...
View ArticleSpanish banks stress test reveals €59bn black hole
Report lists seven banks that will need bailout to cover bad boomtime loans to building developersSpain's banks must fill a €59bn (£47bn) hole in their capital cushions caused by a burst of reckless...
View ArticleFSA chief Lord Turner calls for new ideas to kickstart economy
FSA chief pitches for governor of the Bank of England as he distances himself from errors that led to 2008 crisisLord Turner, chairman of the Financial Services Authority, has called for policymakers...
View ArticleBankia executives ordered to pay back bonuses
Spanish bank will tell 72 executives to return 2011 bonuses, which were paid weeks before request for bailoutTop executives at Spain's giant nationalised Bankia are to be ordered to pay back last...
View ArticleEurozone rescues failed Spanish banks in exchange for brutal cuts
Nationalised Bankia and three others to shed 10,000 jobs in return for €37bn to clean out toxic real estate assetsFour failed Spanish banks including the nationalised giant Bankia have been rescued by...
View ArticleSpain's bank restructuring fund forced to deny report that shares will be...
Spain's bank restructuring fund forced to deny reports that shares will be valued at just 1 euro cent eachSmall retail clients who invested in Spain's nationalised Bankia face substantial losses, with...
View ArticleBankia results confirm worst ever losses for a Spanish corporation
State-rescued bank has published its country's worst results yet, giving investors a share value close to zeroSpain's answer to RBS – Bankia – has published the worst results ever seen by a Spanish...
View ArticleNew Bankia shares tumble, wiping out family savings in Spain
Nationalised giant has now lost 99% of its stock exchange value since it was listed 22 months agoSpain's banking crisis wiped out billions of euros of family savings on Tuesday as small investors who...
View Article'Tarp's legacy is disturbing' – the bank bailout five years later
Whatever short-term benefits government money had for Wall Street, the precedent has bad tidings for the economy's futureThis is the third in a series looking back on the Troubled Asset Relief Program...
View ArticleFormer Caja Madrid directors accused of misusing company credit card
Eighty-three executives collectively spent €15m over 10 years at savings bank that merged to become Bankia before 2012 bailoutFresh evidence is emerging of the spendthrift lifestyle of the directors of...
View ArticleAustralian shares plunge as $35bn wiped off stock market over Greek crisis
S&P/ASX 200 and All Ordinaries fell 2% in first hour of trading on Monday although gold kept its allure and crept aheadMore than $35bn was wiped off the Australian stock market in the first hour of...
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