InfoAnda - Spain to approve banks cleanup after tough talks |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Aretha Franklin does "own thing" with new album | 20 March 2010
Somali pirates seize Chinese ship in Indian Ocean | 20 October 2009
Myanmar gives comedian critical of govt 14 years | 27 November 2008

Hollywood breaks revenue record of $9.68 billion | 10 December 2009

Forum Views () Forum Replies ()

Read more with google mobile : Spain to approve banks cleanup after tough talks |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Full Focus Editor's Choice Our best photos from the last 24 hours. See more Images of April Follow Reuters Facebook Twitter RSS YouTube Read Hollie Cavanagh couldn't make 'Idol' fans love her 10 May 2012 Michele Bachmann to withdraw Swiss citizenship 10 May 2012 JPMorgan reveals $2 billion trading loss, CEO Dimon admits "egg on face" | 12:52am EDT JPMorgan has $2 billion trading loss, reputation hit | 10 May 2012 NBA's "Birdman" Andersen's home raided by Denver-area police 10 May 2012 Discussed 142 Obesity fight must shift from personal blame: U.S. panel 121 Florida nabs white supremacists planning ”race war” 118 Romney apologizes for bullying incident at school Watched Prince Charles fills in as TV weatherman Thu, May 10 2012 U.S. downs test missile with new interceptor Thu, May 10 2012 World's rarest gorilla makes camera-trap debut Wed, May 9 2012 Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Gay marriage battle A look at the legal battles and the controversies over gay marriage. Slideshow Wild weather Scenes of the awesome and sometimes destructive power of nature. Slideshow Spain to approve banks cleanup after tough talks Tweet Share this Email Print Related News EU economic forecasts to shine spotlight on Spain 3:46am EDT Analysis & Opinion Euro zone carry trade has limited shelf life Principal reductions begin in earnest Related Topics World » Students hold balloons in the shape of swords during a protest against cuts in the public education system at La Constitucion square in central Malaga, southern Spain May 10, 2012. Credit: Reuters/Jon Nazca Fri May 11, 2012 3:46am EDT MADRID (Reuters) - Spain is expected to present new reforms to complete the clean-up of its banks on Friday after difficult last-minute talks between the government and lenders. At its weekly cabinet meeting, the government will approve a plan to force banks to park their toxic real estate assets in holding companies that would later sell them off. The cabinet is also expected to announce demands for the banks to set aside a further 35 billion euros ($45 billion) to cover sound loans in their real estate portfolios. The government has already forced banks to make provisions of 54 billion euros to cover bad assets. "The text is being finalized after talks with the banks," a government source told Reuters, adding that both the new provisions and the "bad bank" scheme would be approved on Friday. Earlier, financial sources had suggested the reform could be partly delayed to allow more time for negotiations between the government and major banks. Hoping to put an end to its four-year banking crisis, Spain effectively took over Bankia SA, one of the country's biggest banks, this week after days of market anxiety over the lender's viability. The Bankia takeover and expectations for further financial sector reforms pulled Spanish stocks off the nine-year low they hit a day earlier, with the blue-chip index rebounding 3.66 percent. Spain's banks were hit by billions of euros of losses after a decade-long property bubble burst in 2008 and concerns about them, and the country's overspending regional governments, have fanned fears of a new euro zone debt crisis. The government aimed to ask the banks to set aside 30 percent of their sound loans to housebuilders from a current 7 percent but the banks hoped to agree on 25 percent. INDEPENDENT VALUATION The toxic assets now total 184 billion euros, but many fear the hole is even bigger. Successive waves of bank sector clean-ups have failed to convince investors. The creation of holding companies for each bank's problematic property assets would be voluntary for lenders able to make the provisions with no external help. But those that cannot would be forced to set up liquidation schemes and request public money, the sources said. A senior euro zone source said an outside audit of the health of Spanish banks was key to reassure investors that the difficult situation of the banks would not push Spain into seeking an Irish-style bailout. "What are you going to do to ensure that this transparency, especially of real estate valuation, has consequences for provisioning and recapitalization measures?" the source said. "Quite obviously ... it is too early for (Economy Minister Luis De Guindos) to give definitive answers to these questions but I expect that he will be able to offer a plan ... to increase transparency possibly via using outside expertise." Financial sources said the appointment of external auditors could lead the banks to recognize further losses on top of those already reflected in banking reforms presented in February. But any delay in the new banking reform could have a devastating effect as yields on benchmark Spanish bonds remained close to six percent, making the country's borrowing costs very high. "The pressure right now is very high and the discredit would be huge if the reform was not to be approved this Friday," a banking source told Reuters. ($1 = 0.7716 euros) (Additional reporting by Jan Strupczewski; Editing by Fiona Ortiz and Giles Elgood) World Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Friday, 11 May 2012
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
British played central role in foiled bomb operation: sources |
Insight: Afghan women fade from White House focus as exit nears |
Putin flexes muscle in shunning U.S.-hosted G8 talks |
Scepticism main challenger in Algerian election |
Libya finance minister says to resign soon, cites wastage |
France's Hollande to fight firms that fire workers |
German police suspend officer over Salafist links |
Microsoft redesigns Bing, plays up Facebook link |
Facebook listing could trigger IPO surge: Nasdaq |
Audience shares rise in debut on Apple link |
Intel CEO plays down concerns about tech spending |
Russell Brand to host 2012 MTV Movie Awards |
The Simpsons go Gaga for season finale |
House finale bittersweet: Everybody Dies |
Tenacious D aim to revive hard rock with Fenix |
British played central role in foiled bomb operation: sources |
Lawyers for China dissident's nephew say they face threats |
South Africa's De Klerk stirs ire with apartheid remarks |
Syria suicide bombers kill 55, ceasefire in tatters |
Greek parties scramble to avert new vote |
Analysis: China's Hu could cast long shadow if top table trimmed |
French left set to win parliament vote: polls |
British PM faces scrutiny over ties to Murdoch |
Spain to approve banks cleanup after tough talks |
Civilian deaths in Afghanistan fall 20 percent: U.N. |
Facebook's IPO already oversubscribed: source |
Sony slides to three-decade low on strategy doubts |
Insight: Salesforce's plan for opulent campus a costly debacle |
Yahoo CEO says he never provided a resume: source |
Online music storage firm MP3tunes files for bankruptcy |
Google, Twitter quizzed on Facebook-Instagram: source |
Facebook listing could trigger IPO surge: Nasdaq |
Analysis: Cisco spooks, but IT spending seen on the mend |
House finale bittersweet: Everybody Dies |
Hollie Cavanagh couldn't make 'Idol' fans love her |
Long road to South Korean stage for Syrian drama |
ABC renews Modern Family and other shows |
CBS sues ABC, says new show copies Big Brother |
Howard Stern says will tone down act for Got Talent |
Syria says thwarts attempted 1,200 kg car bomb |
NATO head urges Pakistan to open transit routes in time for summit |
Analysis: Israel frets on sideline as fall of Assad delayed |
Egyptians vote abroad, leadership contest heats up |
New Tunisia constitution ready in October: speaker |
Czech restitution plan may unlock vast church lands |
Algeria declares ruling FLN winner of parliament vote |
Nvidia revenue, outlook beat Street; shares jump |
Analysis: Facebook friends Itaú BBA in nod to Brazil growth |
Viddy gets $30 million funding, aims to stand out from competition |
Cannes film festival puts spotlight on rising stars |
Zooey Deschanel to portray Loretta Lynn on Broadway |
The Dictator film launches in offensive style |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01