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Europe Day Ahead: Spain to unveil "bad bank"

Thursday, May 10, 2012 - 02:46

May 10 - The Spanish government is set to demand that the country's banks set aside another 35 billion euros to cover loans to the construction sector following the collapse in property values

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European shares but on an even keel today recovering some of this week's loss season. But optimism as in short supply amid the political and cost increases and rising consent -- -- -- finds. Spain effectively nationalized as one of the country's biggest lenders find Kia has the government moves to shore up confidence in the banking sector. Prime minister Mariano -- says the banks -- six but then I'm more measures to come. The Bank of England comes off the money tops despite efforts and -- into recession not inflation what he's on consumption over a little. Under German chancellor sticks to hobbling on more economic stimulus rejecting calls for measures that rely on your debt. Angle a medical tells parliament drove on credit -- only took you -- deeper into recession. Most probably cut that they ahead in Europe spotted -- will be in the news again on Friday. When it's thought the government -- -- the 5% to cite a father fell to five billion euros to cover their exposure to -- loans and construction on property. I'm Bob -- type scheme to remove toxic assets from the books of -- is also expected. Critics though say this on his government has been too slow in addressing the banking problems. The Spanish government that's trying to do to. Do you not to accept losses from the banking sector and that's why that's truth in this credit approach. But the problem that there really is that prices continue to drop in Spain that is still a huge uncertainty about the Spanish and read -- the prices. And that and it and more important the private sector appetite is evoked part of those assets and also for. -- you know mom getting more capital into the banking system that this is there's a big fear. For the Spanish government may -- to be more and may have to to support the banking sector. I a figure amount. And corporate news British Airways -- like media parents -- AG is among the big European companies reporting first quarter results. We could also get more details of BA's inspiration for BMI which it bought from the fonts up. Loss making units including BMI ought to be sold off. I AG boss Willie Walsh has won that unlikely to be more ailing bankruptcies in the next year. And has also likely to be more gluten from -- is the biggest bank Credit Agricole. Its shares plunged to an all time low and earlier this week after BC's inconclusive election. The pikes peak substituting and putting -- remains a major source of concern. Try to article posted a quarterly loss of two billion euros in fabric. Results are also due from Telefonica Generali will pick up on -- up. Well that's all for -- but that's plenty more on the inside of waffled on the code for Reuters today. Snapshots of all the meanwhile news and much of headlines on social media pulse bus at seven GMTV. We -- it. I'm -- be given the siblings of.

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Europe Day Ahead: Spain to unveil "bad bank"

Thursday, May 10, 2012 - 02:46