Chateaux en Espagne

The Bank of Spain on Saturday took control of and appointed an administrator for CajaSur, a savings bank that was hurt by bad property loans, media reports say.

Based in the southern city of Cordoba, CajaSur has $16.36 billion of loans outstanding and holds $23.9 billion, or 0.6%, of the assets within Spain's financial system, the reports say.

CajaSur on Friday determined not to go ahead with a plan reached in August to merge with a bigger lender, Unicaja of Malaga. The failure of that plan prompted the authorities to take over CajaSur, reports say.

For 2009, CajaSur posted a net loss of 596 million euros ($750 million). Bank of Spain officials estimate that restoring the bank to solvency will require about 500 million euros of fresh capital, reports say.

CajaSur, which had been controlled by the Roman Catholic Church, was the second Spanish bank failure in a bit more than a year, reports say. In March 2009, the Spanish central bank seized control of Caja Castilla-La Mancha.

The seizure of CajaSur comes against the background of international concern about Spain's creditworthiness. This month, the European Union put in place a financial backstop against the prospect that Spain and other countries could default on their debt.

2ème Faillite de banque en Espagne. Inquiétant.

ch'est rein, tout va bien, le chomage est à 20% là-bas, on va leur mettre une amende pour dépassement de l'endettement autorisé par Bruxelles qu'ils réemprunteront au FMI qui imprime les billets comme en temps de guerre, pourquoi tu t'en fais ? comme le stock d'or suit pas, on le réévalue (la méthode marchait bien avec l'immobilier pour regarantir les prêts des particuliers: subprimes, ça a fait ses preuves), les bulles ça fait marcher l'économie.

achetez du sucre et du savon c'est plus sûr