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RE: Spains Bank Collapses Overnight

in #economy7 years ago

Banco Popular has been suffering several months of decadency. The president only purpose was to sell the bank, and the time to receive offers had to be amplied because nobody wanted to buy it.

As far as I know there is no other bank in Spain at risk, and Spanish Banco Santander and BBVA are currently two of the strongests banks in Europe. While French and German banks were investing in Greece, this two Spanish banks were investing in South America, thats why they are in a good situation in spite of the economic situation in Spain.

Seems like the next bank to fail may be Italian.

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