47% des crédits de la BCE en février sont allés aux banques espagnoles

Spanish Banks Account for 47% of ECB Credit in February; Spain's Real Debt to GDP Ratio is 110% Not Reported 68%; Spain Will Implode. It's a Wonder it Hasn't Already

Mish's Global Economic Trend Analysis, Mike Shedlock, 17/03/2012 (traduire en Français  )

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Spain's weight in the eurozone economy is roughly 14%. Yet Spanish Banks Account for Nearly Half of ECB Credit in February.

Spain's Real Debt to GDP Ratio is 110% Not Reported 68%

While noting that Spanish banks are betting heavily on the success of the LTRO, please note strong evidence that Spain's debt-to-GDP ratio is wildly understated because it does not include regional debt, nor does it include government guaranteed bank debt and other miscellaneous items.