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June 9th, 2012 
FAKE NEWS for the Zionist agenda The International Monestary Fund (IMF) says that Spanish banks alone need 40-billion-euros (USD 50 billion) in bailout against the country’s financial shocks.
“Under the adverse scenario, the largest banks would be sufficiently capitalized to withstand further deterioration, while several banks would need to increase capital buffers by about 40 billion euros in aggregate to comply with the Basel III transition schedule,” the IMF said in a statement.
US President Barack Obama has also warned the European Union to solve the crisis in Spain as quickly as possible.
On Thursday, Fitch rating agency downgraded Spain’s credit rating by three notches citing the country’s banking crisis, mushrooming debt, and recession as the main reasons for the downgrade.
Meanwhile, a recent report suggests that 25 percent of Spaniards live below the poverty line.
The number of jobless people in Spain has also hit a record high of 24 percent, with a 50-percent youth unemployment rate, it added.
Spain’s central bank reported last month that the country’s economy will shrink in the second quarter of 2012, with the recession expected to continue until at least the middle of the year.
Battered by the global financial downturn, the Spanish economy collapsed into recession in the second half of 2008, taking with it millions of jobs.
Spain is now the fourth country after Greece, Ireland, and Portugal to seek bailout since the start of the EU debt crisis.
SZH/JR/AZ
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