Hot! Hot! Hot! Story of the Hour: The Crisis At Spanish Banks

Seriously folks....it's no surprise that Spain's troubled banking sector is having difficulties, but those problems have been compounded of late as jubilation from European Central Bank liquidity measures wears off., BusinessInsider tells us.
A number of headlines recently have made investors even more jumpy, as even the Spanish government starts to admit that the financial sector is up to its neck in hot water.

First, Spain's Central Bank Governor Miguel Angel Fernandez Ordonez told reporters yesterday that banks could need more capital if economic conditions continue to deteriorate. With the government doing all it can to consolidate the country's forty-odd banks to minimize bad loans, this would essentially amount to either a state- or EU-led bailout.

Ordonez's statement comes despite assurances to the contrary late last month from Spanish Finance Minister Luis de Guindos, who said the country has no plans nor need to seek EU funds to prop up its financial sector....

Read all about it at: http://www.businessinsider.com/all-eyes-on-spanish-banks-2012-4