''Spanish banks may be forced to seek eurozone bailout''

From New Europe

“One in five loans to the real estate and construction sectors held by Spanish banks is now potentially toxic, a situation which could explode if house prices continue to drop. It’s not at all clear that the Spanish state could afford to recapitalise its banks in the case of severe losses, meaning that banks may be forced to tap the eurozone bailout fund instead, shifting even more of the risk onto European taxpayers.”

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