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The prime minister of spain ask with the world, about the crisis of money, with greece have the same problem. On Thursday on his plans to cut an additional 15 billion euros ($18.5 billion) in spending, setting the stage for tough budget talks this year that could result in early elections in Spain.
The Bank of Spain said the rules could mean a 10 percent average reduction in 2010 profit before taxes. Some analysts suggested that might imperil a handful of the weaker savings banks, unless they merged with stronger rivals soon.
Besides forcing more mergers, “the central bank is trying to make sure that everybody will have to play by the rules already used by the two best in the class, Santander and BBVA,” said Mr. Arenzana, of Shelter Island Capital.
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