Spanien nära total kollaps

Att Katalonien måste få stödpengar bekräftades av regionalpresident Artur Mas på fredagen när han inför journalister betonade att pengarna måste till snabbt.

– Vi bryr oss inte om hur de gör det, men vi har betalningar som måste göras i slutet av månaden”, sade Artur Mas.

Beskedet kom vid sämsta möjliga tidpunkt för den spanska regeringen som arbetar hårt för att övertyga omvärlden att de har situationen under kontroll. Det har länge varit känt att Spaniens regioner har stora skulder och de dras med stora underskott i de regionala budgetarna. Katalonien har mer än 13 miljarder euro i lån som förfaller i år - det är nästan 120 miljarder kronor.

I eftermiddag träffas även krisbanken Bankias nya styrelse. Banken är Spaniens tredje största och en sammanslagning av ett antal skuldtyngda sparbanker. I media spekuleras i att Bankia kommer behöva 15 miljarder i kapitaltillskott.

Sannolikheten för ett spanskt nödlån är nu stora, enligt flera bedömare.

Citat:
Well under 24 hours ago we wrote, "As Bankia Bailout Costs Grow Exponentially, Is A Stealth Bank Run Taking Place" in which among other things, we listed the chronology of the Bankia bailout. To wit: "Note the following sequence of events, bolded numbers, and dates:

Bank Of Spain Formally Nationalizes Bankia, Says Insolvent Bank Is "Solvent", Adds There Is No Cause For Concern, Zero Hedge, May 9

Spain is taking over Bankia by converting its 4.5 billion euros of preferred shares in the group’s parent company into ordinary shares, BusinessWeek, May 21

Spain said on Wednesday its rescue of problem lender Bankia would cost at least 9 billion euros ($11 billion), as the government tries to clean up a banking system that threatens to drag the country deeper into the euro zone crisis, Reuters, May 23

Bankia SA will have to ask the Spanish government for more than 15 billion euros as part of its effort to restore its financial health, state-owned news agency EFE reported Thursday, citing financial sources, Dow Jones, May 24

Hopefully we aren't the only ones to notice how the bailout cost has oddly doubled almost on a daily basis." We concluded: "It is a virtual certainty that in the next few days we will see total Bankia "bailout costs" rise more and more, until the truth becomes self-evident to even the most financially unsophisticated soon to be ex-depositor. Sadly, we are also fairly confident this is not limited to Bankia as more of the harebrained Cajas consolidation schemes from 2010 blow up one by one."

BANKIA NEEDS EU19 BLN IN STATE SUPPORT, EUROPA PRESS SAYS

What does this mean? Again, from yesterday: "Sadly, what the Spanish government and the Bank of Spain have demonstrated, is that despite all the rhetoric, capital flight has not only stopped, it is accelerating."

In other words, since the bailout total yesterday, which was €15 billion, through today, another €4 billion in cash has left the bank.

Yes: you won't hear the words "Bank Run" uttered in the media, as that would imply panic. Unfortunately, that is the only explanation for a €4 billion capital (i.e. cash) deficiency overnight.

Things in Spain are getting worse by the minute, which sadly is becoming more predictable by the day.