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Looking at the funding requirements Spain will have in the near future, even with the IMG/EU bailout, it looks as if there may be a restructuring in Spain's future.
Of course, all of this stress is bound to manifest itself in Spain's banks. As the market has picked up on this (luckily, after many BoomBustBloggers had positions in) Banco Santander and BBVA have paid the price. Speaking of STD...
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The Octopus Known as Banco Santander: This is a very interesting, if not highly controversial documentary. The European version of the Squid, the Octopus!!!! As my readers know, We Have Warned, and the Fissures Are Widening in the Spanish Banking System. A quick snapshot of Bancco Santander:
I have made our position on Spain clear through a complete forensic review of the state’s finances for subscribers:
As suggested in the document, if one refers to the blog post Lies, Damn Lies, and Sovereign Truths: Why the Euro is Destined to Collapse!, you will find that not only has Spain apparently fabricated a fairy tale of potential prosperity based upon the projections of the IMF and EC, but the IMF and EC have been nothing but fairy tale projections themselves. I have been bearish on the Spanish banking system since January of 2009 (reference Reggie Middleton on the New Global Macro – the Forensic Analysis of a Spanish Bank ), and after a trip to the Costa del Sol by way of Málaga during the boom times are shortly thereafter, the reasons should be most obvious. We now have a rash of new Spanish bank and sovereign research which has returned between 300% and 400% over the last few months.
Needless to say, as the situation in the EU deteriorates upon the widespread dissemination of the knowledge that BoomBustBloggers have been trading off of for quarters now, I feel the options will spike in value significantly!  04:58 |
The Sovereign Debt Crisis: The Complete AnalysisRelevant subscription material (subscribe here):
 Sovereign Contagion Model - Retail (961.43 kB 2010-05-04 12:32:46) Sovereign Contagion Model - Pro & InstitutionalEuro Bank Sovereign Debt Exposure Final -Retail Euro Bank Sovereign Debt Exposure Final - Pro & Institutional Sovereign Debt Exposure of European Insurers and Reinsurers (Empty 2010-05-19 01:56:52)
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Spain public finances projections_033010.
