Why markets feel suspicious about the Spanish banking audits
From www.valenciaplaza.com | By Tomas Berggren, equity analysts at Saxo Bank | The result of the independent stress test on Spanish banks calmed the market somewhat. According to the report, the total losses in a worst-case scenario are €250-270 billion with the corresponding capital shortfall being €51-62 billion, i.e. well within what was expected and probably in line with what Madrid wanted to hear. The losses are still hefty, though, and should be…
