Markets on alert after (Spanish) bank bailout

P

Pinozi

http://business.timesonline.co.uk/t...ectors/banking_and_finance/article7133957.ece

FEARS of further turbulence in the financial markets mounted yesterday as Spain was forced to bail out one of its biggest regional banks, adding to worries about the eurozone.

Spain’s central bank took operational control of Cajasur, one of 44 large regional lenders that account for about half the Spanish banking market. It will need an immediate cash injection of €500m (£430m).

The intervention has heightened concerns that Spain’s regional lenders could put added strain on its public finances. The collapse of the Spanish property market has left the regional banks with an estimated €300 billion bad-debt problem. Concern about Spain’s banks is one of the worries that have been hanging over the eurozone in recent weeks.

Jean-Claude Trichet, head of the European Central Bank, added to eurozone woes when he warned Portugal that it must act immediately to cut its budget deficit


This should add some "much needed" volatility for this weeks trading
 
These things are happening (London just warned of unrest on the streets) at a time when you know officials are trying to put the best face on the economy.

Kicking the can further down the road just isn't working as well as it did 6 months ago.
 
Everything is fine stop trying to cause a panic.

For example, my Fios connection is still producing excellent entertainment. Also my microwave still works.
 
Ironically, MY microwave just short circuited last night. First time I've ever had a microwave break. Bad omen?

Quote from HuggieBear:

Everything is fine stop trying to cause a panic.

For example, my Fios connection is still producing excellent entertainment. Also my microwave still works.
More...
 
Quote from ET99:

this is old news.
Spain and Portugual problems have already been factored in to the market long time ago.
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Really? Old News? Factored in already?

Remember subprime - first came to surface in MSM around mid 2007, markets then went higher then got a mention again then the markets started tanking

The Greece problem was a partial cause of that dip in Feb, markets went higher again then the issue came up again and the markets are doing its current dive

We'll see when the markets open this week, I think it causes the markets to resume its downtrend. At the very least thought I would post it here to share the info (fear).
 
its not where the markets open for week...... its where do they close? the most part of all markets..., the rookies get killed off open, then pros come in......................:D
 
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