Spanish banks facing the crisis:
- They have not requested public capital aid.
- They maintain their business model.
- Strategy to maintain their competitive capacity:
- Balance sheet strengthening.
- Preserve operational efficiency.
- Geographic diversification of activity.
The financial crisis has highlighted:
- The existing imbalances in economic growth (over-indebtedness).
- The interconnection between banking crises and the fiscal capacity of their countries.
- The structural weakness of the Euro (monetary union without fiscal union).
Tension returns to the financial markets, and the scarcity and rising cost of wholesale funding is hindering recovery.
