The Spanish Government would be absolved of responsibility even though it supervises Spanish banks.
It is possible that Spanish banks, in particular, could be hit by an outflow of deposits.
After seeing YPF's fate, Spanish banks, utilities and telecoms firms may also look for the exits.
First, these evaluations of losses faced by the Spanish banks are so-called "top down".
Markets have become accustomed to seeing Spanish banks in trouble, and even their French counterparts.
FORBES: German Banks Don't Have Enough Capital To Face A Severe Downturn, Moody's Says
Government bond yields in Italy and Spain quickly spiked and pressure mounted against Spanish banks.
Spanish banks, too, have grown more reliant on the liquidity lifeline from the ECB.
In the mid-2000s, the Spanish banks' holdings were typically around 6% of the total.
French and Spanish banks alone provided 40% of trade credit to Latin America and Asia.
Initially the rescue of the Spanish banks was presented as almost a technical adjustment.
This is partly because Spanish banks are the biggest threat to the euro right now.
Spanish banks are suspending evictions for the next two years for the most vulnerable people.
In the 2000s, Spanish banks emulated U.S. banks in the aggressive use of securitization.
Under the no-bail out scenario, the European Central Bank would simply supply money to the Spanish banks.
Banco Santander is to absorb two Spanish banks, Banesto and Banif, closing 700 branches in the process.
Deposits in Greek and Spanish banks dropped, suggesting a bank run could be in its infancy.
Spanish banks have been hit hard by fears that the Greek debt contagion will spread to Spain.
Other investment banks have estimated the needs of Spanish banks at in excess of 100 billion euros.
Spanish banks have come under criticism for selling complex, high-risk products through their branches, like preferential shares.
Much like the bonds issued by their governments, shares of Italian and Spanish banks are getting hit hard.
Maybe the Spanish team could be used as collateral for some loans from Germany to bailout the Spanish banks?
Spanish banks have taken huge write downs on their loans, but not enough.
Spanish banks BBVA and Santander Central Hispano also have significant exposure to Argentina.
Appetite for bonds among Spanish banks and financial institutions is on the wane.
But with listed Spanish banks already cheap, cajas would have to sell shares for a song to attract interest.
Mr Barroso said the EU decision to recapitalise Spanish banks last weekend showed the EU's "ability to react quickly".
The bailout of the Spanish banks - sealed last Friday - lacks conviction.
Spanish banks, in particular, have been on a buying spree in Latin America.
Demand from Spanish banks is "much lower than in January and February, " said Laurent Fransolet of Barclays PLC in London.
All Spanish banks feel under pressure because their home market is smaller than those of, for instance, France and Germany.
应用推荐