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Bailout boost Relief as ‘stress tests’ reveal only half its banks need a bailout
SPAIN has finally had a bit of good news. Despite tens of thousands protesting over austerity cuts around the country and Cataluna pushing for independence, Spain’s banks at least look stronger than initially thought. It has emerged that only seven of the country’s 14 biggest banks have failed the so-called ‘stress tests’ designed to assess the assistance they need. The other half, including Banco Santander, La Caixa and Unicaja, have clean bills of health.
Vol. 6 Issue 145
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October 04 - 17, 2012
Deluge
TRAGIC: Expat Diana Dudas died in the floods
By Dana Ferguson
Shortfall
It means the shortfall of ‘just’ €59.3 billion is well under the initial €100 billion figure first set aside by Brussels for a bank bailout. The main culprits are Banco Popular, which has a shortfall of €2.5 billion and Bankia which needs a total of €24.7 billion. Catalan bank Catalunya Caixa also failed its test and will need a capital injection of €10.8 billion. It comes as the region made a further bid for in-
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Death toll of weekend floods likely to reach 13 with millions of damage caused around region
NEARLY a dozen people died over the weekend in the worst floods to sweep Andalucia in decades. A British expat was among those killed, as flash floods registering up to 245 litres per metre square wreaked havoc around the region. Diana Dudas, 52, was found in a lagoon near her home in Vera, in Almeria. She had been swept away as flood waters rose up by two to three metres near her house on Friday morning. It is believed she had died as she made her way to work at a hairdressing salon in nearby Vera town. Her car had been swept into her front garden and her house badly damaged. Close friend and neighbour Genny Sutcliffe, 56, described Dudas – who had a Spanish husband, Full story on Pages 4-5