Spanish banks' bad loans amount to 18-year maximum

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Source: Reuters
The Bank of Spain announced that bad loans in Spanish banks increased to 8.37 percent of their outstanding loans. Independent auditors will be assigned to assess the situation and calm down the investors. Bad loans are expected to rise and according to some analysts might reach 15 percent of all loans. Distressed banks and highly indebted economy are the two main problems which, investors believe, should be tackled in order to avoid a bailout.

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Fri, 18 May 2012 19:12:55 GMT

Obama and Hollande meet at G8

The euro zone crisis will be in the limelight of a G8 summit which starts on May 18 in Maryland. Francois Hollande, who officially inaugurated as French president of May 15, has already expressed his criticism about European austerity measures. Together with Barack Obama, who favors pro-growth policies, they are expected to join forces on the euro zone debt crisis. French military forces in Afghanistan are

Fri, 18 May 2012 19:13:39 GMT

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