09/06/10

Piccole Banche Spagnole congelate....

Spain Now Showing Very Serious Signs Of Systemic Stress
The situation in Spain is getting worse by the minute as international banks are now unwilling to lend to many Spanish regional banks, or cajas, in the interbank markets.

What is of more serious concern is why banks have halted lending. It is not just because they are worried about issues of banking solvency, now lenders are concerned about the viability of Spanish sovereign debt, according to Cinco Dias via FT Alphaville.

If banks are no longer willing to take Spanish sovereign debt as collateral for lending on the interbank market, Spain's banks and the sovereign bank, the Bank of Spain, may face future problems as they try to roll over their debt or seek short term support. Spain has €225 billion in debt to roll over in the year 2010, with July being the biggest month.

There is, however, a contrary opinion on Spanish sovereign debt's position as collateral. According to the Bank of Spain's own data on interbank lending, the constraints suggested by the earlier report are not yet being seen. This may put pause to the alarm over sovereign debt for now.

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Le Piccole Banche Spagnole sarebbero state congelate fuori dal Mercato dei Prestiti Interbancari.
Traduzione: le altre banche non si fidano di prestargli nemmeno un euro....non si sa mai che poi non gli torni più indietro...

Vedi gli spiacevoli episodi sulle Cajas Groviera:
- Cajas o non Cajas....questo è il PROBLEMA (o meglio...uno dei tanti)
- Spagna: effetto macchia d'olio sul sistema bancario?
- Questa me l'ero persa: in Spagna è "saltata" una Cassa di Risparmio

Reuters:
The European interbank market is not lending to smaller Spanish banks partly due to concerns the country could be heading for a debt crisis along the lines of EU partner Greece, an international bank source said on Wednesday.
The restrictions did not appear to be aimed at specific institutions so much as the country, the source said, and market access could ease if Spain's Socialist government announces further austerity measures.
Another source cited by Cinco Dias paper said the bigger Spanish banks appeared to be fine.

Nello stesso tempo sempre in Spagna scioperone del settore pubblico contro il piano lacrime&sangue (approvato in via di massima al parlamento spagnolo per 1 singolo voto e 15 astenuti...in seguito dovranno essere approvati i singoli provvedimenti...)
WSJ:
Spain's public-sector workers went on strike Tuesday in what could be a run-up to a full general strike in response to recent spending cuts the government has announced to reduce Spain's budget deficit.
According to Comisiones Obreras, Spain's largest union, 75% of Spain's 2.6 million state employees stayed away from work, while the government gave a much lower figure of 11%.

Ma tanto ormai le Borse sono passate al mood RIMBALZO
e dunque chissenefrega di queste notiziole a possibile ripercussione SISTEMICA....

Fonte articolo

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