Spanish Banks Threaten Bail-In To Cover For Their Fiscal Ineptitude

"Analysts estimate that the bank needs at least €4 billion more capital and it is burdened with a likely insurmountable €37 billion pile of toxic property loans and assets. Banco Popular is Spain’s sixth-largest bank and there is a debate as to whether it is systematically important. It likely is as it has the largest amount of small business customers in Spain. These companies are the backbone of the Spanish economy and now vulnerable to having their deposits over €100,000 confiscated in bank bail-ins."