Friday, January 6, 2012

Something about my favourite punching bag - 5

Concerns also escalated about Spanish banks after Spain’s economy minister told the Financial Times that they will have to set aside as much as 50 billion euros ($65 billion), which amounts to 4% of Spain’s gross domestic product, in extra provisions on bad property assets.

Bad property assets???? Remember spain had housing bubble until last year just like what we have now ....

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