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May 28th, 2012 
FAKE NEWS for the Zionist agenda Mariano Rajoy’s Monday comments came after Bankia shares nosedived over 28 percent on reports that the bank needs more bailout cash than originally thought.
Rajoy however, downplayed the impact of financial problems that the country’s fourth largest bank is facing saying that he doesn’t believe that Bankia’s woes have contributed to the latest surge in the risk premium requested by investors to hold Spanish debt.
The conservative prime minister insisted that Spain’s banking sector would not need an international rescue.
Recently nationalized Bankia, Spain’s fourth-largest bank has asked for an additional 19 billion euros in government help, in addition to the 4.5 billion euros rescue fund received from the state last month.
Meanwhile, Spain’s wealthiest autonomous region, Catalonia, has also asked for central government’s help to pay 36 billion euros of debt refinancing bills this 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. Earlier this month, Spain fell back into recession.
The current economic crisis in Spain has prompted the government to implement reforms on the financial sector.
Although Madrid has tried to regain the trust of Spaniards towards the banking system, concerns over a financial recovery for Spain continue to grow.
PG/JR
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