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Breakingviews: Spain’s rose-tinted slip

Monday, October 01, 2012 - 04:38

Oct. 1 - Spain’s optimistic assumption in the amount of capital its banks will need for recapitalisation is another misstep in their approach to the crisis say Breakingviews.

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Says that this thing you rosy glow coming from breaking news this morning -- the -- dangerous profits rose tinted losses in Spain can not only mean trouble ahead. And a messy deal finally -- -- itself up with me as Christians. You can read this -- article excellent been -- -- -- that's always -- adding the stress test. Com. To what you -- the sauber of missteps. But it downgrade from buddhism or just. No but this is still fly disappointing what you want with a stress that's obviously is. Really credible assessment of the nightmare scenario and if you. Companion assumptions and relate inspires -- stress test with say similar size and on and it's not actually. And gleaming is that it could be a week do you remember that loses in its past have been given the -- blows by. The European. Union -- kind of -- the really -- behind his and they have been told -- -- the hundred billion euros of capital available to you. If you need to recapitalize the banks in the end it's -- Chicago with a figure of sixty -- and -- bodies have gotten. But it is not ready -- some of -- I mean not for little bill now on the -- side and is based that if you're not numbers lower than on have been in because. They -- but they've made certain assumptions or anything improper move of about genocide so for Islam collateral. Large amounts of undeveloped. Land in Spain given the and withdraw. Its. Three in the states in a money thing it's not really worth anything that school should be written down to -- Announced what you seen in other stressed to us but in in this -- it's still has some value I think is down about. The dominance of the things down about eighteen cents I mean. Thought this is still. -- south of basic in -- this -- and so what what -- weather activities if you've been in order to receive aspirin it's previews tomorrow to receive us. Well. That all of the sort of building blocks from place in. You have got the support of the ECB. In if that satisfied they're gonna go and -- phones pre done meals because -- kind of to circle. Box. You know the pressure is still -- and that the moon evolved reforms in the kinds of phase now where. The social unrest. And -- -- country is. It was very worried is gonna she gonna make. The leadership kind of soft benefits. All of the needed reforms in the indictment that says hit. As time goes on more and more of the pieces. Sort of that your viewers -- solution. Come into place but at the same time you have to increase -- the reason we're kind of drag their feet. All the reforms if you need him to. Okay I'm doing court -- -- our target compromise on -- dealers is is your take on this. Where it eventually wrapping this -- Well look what they -- -- both the other has had what we have not -- for is -- news. Recommended in an all you recommend able. Proposal from drilling for some to the next Ross and but we've never pull this is an absolutely compelling deal by any means and is. Risks to bring together these these two companies are very different cultures. Box from the next draw the perspective. What they canning is. A good stat of the combined company. A premium -- McFadden though look at. From any other bit of some of his plan -- goes people can say. And it is there's a big round about retention bonuses -- -- off now. They are they'll still that but you're leaving the really egregious forms -- David and frankly they do look they've they don't necessary given. The needs to retain the kicks off the managers say -- -- -- -- and -- in favor of the deal or and they because the pretensions. That it might then say in it's a sensible compromise. We think -- balance while -- the -- of the compounding. It's -- -- worthwhile instructional design except -- -- I can get Chris and thanks -- Chris news sophomore tennis having insight what's our US bringing you -- -- everyday twelve birdies in 1730 BST. I'm Axl Rose -- sources.

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Breakingviews: Spain’s rose-tinted slip

Monday, October 01, 2012 - 04:38