According to Reuters Spaniards alarmed by the dire state of
their banks are squirreling money abroad at the fastest rate since records
began, figures showed on Thursday, and the credit ratings of eight regions were
cut.
Spain is the next country in the firing line of the euro
zone's debt crisis, with spendthrift regions and shaky banks threatening to
blow a hole in state finances and pushing funding costs towards levels that
signal the need for a bailout.
The European Commission gave new help on Wednesday, offering
direct aid from a euro zone rescue fund to recapitalize Spanish banks and more
time for Madrid to reduce its budget deficit.
Bank of Spain data showed a net 66.2 billion euros ($82.0
billion) was sent abroad last month, the most since records began in 1990. The
figure compares to a 5.4 billion net entry of funds during the same month one
year ago…..
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