Catalonia is the region that was first to announce plans to tap the Spanish government's 18 billion euro bailout fund as the region has been locked out of debt markets. Earlier today, the Spanish government announced that it had obtained 3 billion euros through a private placement with Spanish banks to fund that bailout package. The big Spanish banks, Santander, BBVA and La Caixa will contribute most of the funding.
The reason for the problems have to do with Catalonia's large funding needs. It...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.