News Tag: CajaSur

July 25, 2010

EU unveils results of bank stress tests

by Kay Murchie
The results of the European banking stress tests have been published over the weekend with just over half a dozen of the 91 banks failing the tests. The Committee of European Banking Supervisors (CEBS) said seven of the banks failed the tests, which were conducted to ease increasing anxiety over Europe’s finance sector. The banks which failed included five Spanish banks - ...

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May 30, 2010

Further blow for Spain as Fitch cut rating

by Kay Murchie
Fitch Ratings cut Spain's credit rating from the maximum AAA to AA+ on Friday and the news comes just a week after one of the country’s banks, CajaSur, was bailed out. Standard & Poor's cut Spain’s credit rating a month ago and comes as the country has been forced to implement tough austerity measures in order to tackle the country’s ...

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May 25, 2010

Global stock markets slump on euro debt

by Kay Murchie
Stock markets across the world fell sharply today over ongoing fears about the debt crisis in the euro zone. London’s FTSE fell below the crucial 5,000 mark today to 4,939.6 points - its lowest level for eight months. Germany's Dax index lost 2.7%, while France’s Cac 40 index fell 3.2%. Earlier in the day, Asian markets also saw sharp falls. Stocks ...

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IMF issues warning for Spanish economy

by Kay Murchie
The International Monetary Fund (IMF) has issued a severe warning to the Spanish economy suggesting it needs "far-reaching" reforms to ensure its recovery. The economy, which is the euro zone’s fourth largest, exited recession in the first quarter of the year after experiencing growth of just 0.1% - ending a run of seven consecutive quarters of contraction. There are concerns for the ...

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May 24, 2010

Spanish stocks down on CajaSur rescue

by Kay Murchie
Spanish banking shares have been hit today after Spanish bank, CajaSur, was bailed out at the weekend. The Bank of Spain has taken over the running of CajaSur after a proposed merger between CajaSur and savings bank, Unicaja, collapsed at the end of last week. CajaSur, which is one of Spain's largest regional lenders, was heavily exposed to Spain’s property market ...

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