Banking on European Worries
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The creative euphemism of the month belongs to the Bank of Spain: "Problematic Assets." This is how the central banker termed the $240 billion in bad property loans currently weighing heavily on balance sheets. A rescue plan for domestic lender Bankia, with assets equal to about a third of the Spanish economy, has not been well received by markets. This comes as no surprise to traders given that half of the bank's 38 billion euros worth of property loans are classified as "doubtful," or are soon to be....626 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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