The prediction yesterday by José Luis Rodríguez Zapatero, the Spanish prime minister, of mergers among the country’s weaker banks merely brought into the public domain a looming reality accepted months ago in private by Spanish bankers.
“When there’s a time of grave crisis like this, it’s likely that there will be merger situations and restructurings not [...]
Too vulnerable to be on their own
New York and Wall Street are suffering the worst financial storms of the last century. This time though, these phenomenons have been created by man (and by the greed of many) and have had an incalculably devastating effect on the world economy. The latest victims to fall prey to [...]
The six leading Spanish banks, which showed record profits of 30,000 million euros between 2006 and 2007, have fallen by 56,914 million on the stock market over the thirteen months of the current credit crunch crisis. Banco Santander has faired the best of them.
The virus attacking the financial sector since July of 2007 has wiped [...]
