Spania måtte lørdag bite i det sure eplet og be om hjelp til å redde bankene. De må rekapitaliseres. Rammen er 100 milliarder euro. Det lates som om man er føre var, men i virkeligheten var det nøden som tvang Spania.

Det var ydmykende for regjeringen og nasjonen etter å ha benektet at man trengte en redningspakke.

Den bitre sannhet, som markedet har visst et stykke tid, var at Spania ikke hadde råd til å låne til over 6 % rente. Nå skal renten på lånet som går via regjeringen være svært gunstig. Men ingen tror det stanser med dette. Til det er bankenes tap for stort og det er ennå langt fra avskrevet.

The Spanish acceptance of aid for its banks is a big embarrassment for Prime Minister Mariano Rajoy, who insisted just 10 days ago that the banking sector would not need a bailout.
But since then pressure has been piled on Madrid to ask for help for its banks, which are struggling with toxic real estate loans and assets.
Spain was hit Thursday with a downgrade of its credit rating to just two notches above junk by credit rating agency Fitch, which estimated Spanish banks may need as much as €100 billion ($125 billion). Then on Friday, Moody’s Investor Services warned it could downgrade Spain and other countries in the eurozone.
In the early hours of Saturday, the International Monetary Fund released a report estimating that Spanish banks need a recapitalization injection of at least €40 billion ($50 billion) following a stress test it performed on the country’s financial sector. That report came out three days ahead of schedule, underscoring the urgency of the situation.

Europe bailout of Spain could cost $125 billion