Spanish and Italian Funding Needs Could be on the Order of Eur 300bn

Spanish and Italian Funding Needs Could be on the Order of Eur 300bn Over the Course of the Next 12 Months


Quotes from Standard Chartered:
-Spain's banking bailout amounts to up to EUR 100bn, while new bailouts from Cyprus (up to EUR 10bn) and possibly Portugal (some EUR 60bn) as well as transferring Ireland's bank bailouts to the ESM (up to EUR 30-40bn) could earmark a further EUR 100bn+. We calculate that covering Spanish and Italian funding needs could be on the order of EUR 300bn over the course of the next 12 months.
-So the onset of a renewed crisis - potentially driven by a breakdown in Troika relations with Greece - could swiftly run down ESM funds. IMF funding should complement ESM finance, potentially raising available lending by a further EUR 250bn, which would provide a buffer.


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