Two More Spanish Banks Hit By Contagion: Another Deflationary Bust Coming Up

Mish Talk

Five days ago the Telegraph reported Santander Buys Struggling Spanish Bank Popular for €1.

The Article called it a “watershed deal masterminded by EU regulators to avoid a damaging collapse.”

Reality is quite a bit different as two more Spanish banks are in serious trouble.

First, let’s finish some details about Banco Popular from the Telegraph article.

Cont....