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„ECB Must Help Spain“
Politics ♦
Published: May 18, 2012; 15:05 ♦ (Vindobona)
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If real estate price in Spain fall further, Spanish banks were not able to bear that risk. A Greek exit could cost Austria up to € 10bn.
„ECB Must Help Spain“ / Picture: © Vindobona.org
The non-performing loans of Spanish banks may become the first challenge for the planned ESM (European Stability Mechanism), the new director of IHS Christian Keuschnigg thinks. Even more, also ECB would have to intervene in case of falling property prices in Spain, the economist states. Non-performing loans would rise further, Spanish banks could not cover them anymore. “For Spain,…
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