video transcript

-- Reuters breaking news -- Spain's hasty DIY bank Kia recap smells fishy would mean that discussing stories as -- is breaking news is that it's Christians. -- It's not like this -- this. This rescue I mean it's the Spanish government doing it not. The -- upon us for the files. It's look it's good that let -- alike in this rescue is needed because. And yeah I feel results say that it's it's packed with being -- rated massively. During the first half. To its ongoing losses say neither the recount because that's to our mission is going down from -- in the whole office to. To well below seven. Say it needed funds go to the opening years that's incentives to both of it's Madrid has agreed. A special. Bank recount. Funds. Support program. -- this year instant partners. Which had a special provision in that. Four -- an emergency situation like this and yet that is being used which is which is some of -- contingent wasn't it was not contingent from. About Franklin. Don Stratton Mountain may be the reason that Madrid is actually recapitalize thing. Thank you -- there directly. And not use this on because. That various conditions attached to this special. Euros -- bank rescue fund into the setting up about bank. And they'll survive is that. If that created gone down that operated may have had to. Impose whose losses. All of the criticism from here many if you don't return -- -- people. It's prefer it says not if it goes directly recount pluses self -- with things through the circle fraught. Facility. Then it doesn't have to that's actually the these. Holders of these -- here preferred securities as in many of him everything services. Will balls. But from now all. Be impacted by certain politically concede wide -- what's with ruthless -- -- -- -- -- -- -- -- May not be -- -- -- boy needs. Heck some of these. These recent bus is but at least trying to response times basically by its -- may have to -- the -- if it does have to get on the rate. They've evocative of its cola cup come together another plan whereby. Even if you can get the same thing if it is another bank guys defend instruments that. Well as the limits on how much he is not like Spain. The Spanish -- conferences. How. Capacity to its school. Major bank rescues that's why this fund was set top. Now. As that happens this is that the thumbs involved in Europe Poland this whole global. Could it be repeats it would be perfect part -- -- that. Fund now. This is like. As a temporary. Response to the problem is it possible it may actually be that we'll see another. Recount prudently and it does involve the content of thank you crevices but give them excuse themselves from inflation over time. Okay Chris many thanks -- that Chris Hughes pure what -- US break and be sure. Every day twelve birdies in seventeen petty BS take an accidental sources. Move that. Yeah. And what it takes me. What about -- Well with.