As for Spanish banks, they seem to me to be on the cusp between needing bailout-fund money or muddling through with help from the Spanish government and the market.

BBC: EU banks may raise ?200bn

So people who worry about the Eurosystem needing to have assets that back its liabilities (not me, as you can see if you read the paper).

FORBES: Revised TARGET2 Paper & Implications for ECB of Cyprus Exit