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http://www.irishtimes.com/newspaper/breaking/2012/0529/breaking25.html
?ts=1338296200
A woman holds a placard during a protest outside the Liberbank headquarters in Oviedo, northern Spain yesterday. Photograph: Eloy Alonso/Reuters
Spanish unlisted savings bank Liberbank is in talks about a possible merger with rivals Ibercaja and Caja 3, to bulk up their capital position as they struggle with billions of euros of bad property debt.
Investors believe Spain cannot replenish a capital hole in its entire banking system without seeking an international bail-out.
Bankia, formed by an earlier tie-up between seven banks, asked the government for a record rescue of more than €19 billion on Friday, helping to push the country's risk premium against German 10-year debt above 500 basis points.
Liberbank, Ibercaja and Caja 3 together hold toxic assets, including bad loans to housing developers, of around €11.8 billion, around a quarter of that held by Bankia and its parent company Banco Financiero y de Ahorros (BFA).
?ts=1338296200
A woman holds a placard during a protest outside the Liberbank headquarters in Oviedo, northern Spain yesterday. Photograph: Eloy Alonso/Reuters
Spanish unlisted savings bank Liberbank is in talks about a possible merger with rivals Ibercaja and Caja 3, to bulk up their capital position as they struggle with billions of euros of bad property debt.
Investors believe Spain cannot replenish a capital hole in its entire banking system without seeking an international bail-out.
Bankia, formed by an earlier tie-up between seven banks, asked the government for a record rescue of more than €19 billion on Friday, helping to push the country's risk premium against German 10-year debt above 500 basis points.
Liberbank, Ibercaja and Caja 3 together hold toxic assets, including bad loans to housing developers, of around €11.8 billion, around a quarter of that held by Bankia and its parent company Banco Financiero y de Ahorros (BFA).
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