59.3 Billion Euros: What Spain's Banks Need As Loans From EuroZone

Well, the story of central banks / financial authorities is well known to us now - we even know how the US Fed lent billions of dollars to european banks. We spotted this disturbing estimate today:

"Spain's banks will need an injection of 59.3bn euros ($76.3bn; £47.3bn) to survive a serious downturn, an independent audit has calculated.

The amount is broadly in line with market expectations of 60bn euros, and follows so-called stress tests of 14 Spanish lenders."

Statistics Source: BBC News

Well, what shall we say - let the printing begin!