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Santander details provisions in bid to reassure shareholders over €0.6 dividend

MADRID | Banco Santander on Monday announced that the banking group in Spain, including Banesto, will require €2.7 billion before taxes to comply with the new legislation passed last May 11 on real estate asset provisions. These charges are in addition to the reserves already made compulsory by a decree-law in February, of which €2.3 billion before taxes are still pending, as stated in a filing sent to the Spanish regulator…


The case against Spanish banks: how the New York Times got it wrong

NEW YORK | When one of the world’s most prestigious newspapers quotes a blogger as the main source of a story on international economy, sure that blogger’s words do get a boost. The New York Times Business front page recently spoke of “Spain’s weak spot“, saying that “A rising portion of Spain’s €663 billion, or $876 billion, in home mortgages at risk of default could lead the country’s banks to a…