Spain's bad loan ratio highest in 14 years - Bloomberg
Spain's bad loan ratio highest in 14 years - Bloomberg: "pain's central bank says the bad loans ratio for the country's banks and financial institutions rose to 5.66 percent in October, its highest in 14 years.
The bank said Friday said that of total loans of euro1.83 trillion ($2.42 trillion), bad debts accounted for euro103.7 billion in October, up from euro101.3 billion in September.
Spain's shaky banking sector is a key factor in Europe's effort to keep its government debt crisis from spreading. Greece and Ireland have already needed bailouts, with heavy banking losses helping push Ireland into needing a rescue.
Spanish banks 
have been saddled with foreclosed property since the collapse of the key real estate sector."
The bank said Friday said that of total loans of euro1.83 trillion ($2.42 trillion), bad debts accounted for euro103.7 billion in October, up from euro101.3 billion in September.
Spain's shaky banking sector is a key factor in Europe's effort to keep its government debt crisis from spreading. Greece and Ireland have already needed bailouts, with heavy banking losses helping push Ireland into needing a rescue.
Spanish banks have been saddled with foreclosed property since the collapse of the key real estate sector."
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