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Spain sounding out investment banks, property advisers on crisis options

From iii.co.uk

Spain is sounding out investment banks including Credit Suisse , Goldman Sachs and UBS as it seeks a credible fix for its banks roiled by a collapse in real estate prices and now threatening the creditworthiness of Spain itself, sources familiar with the matter said. Spain has repeatedly said it will not ask for European Union or IMF money to solve the problem of its banks, hit by billions of euros in losses after the bursting of a decade-long property bubble in 2008. Instead, the central bank is consulting about setting up a holding company to value and sell off the real estate assets. Bankers say institutions in ... (full story)

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