Fox News
Expand
Browse All Video
Watch Live

You're watching...

Spain's Banks in Trouble

Details

  • Description

    Big unemployment problem

  • Duration 1:50
  • Date

Clips

Also in this playlist...

Mobile Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

A person in Ireland and it was -- and now the intense focus turns to Spain and whether or not that century and what's going on with its finances.

Poses a threat to the European Union and our economy here at home Greg Burke is -- driven more Greg.

-- you know that's right it's interesting Spain has never talked about bailout the government now that -- word.

Is certainly on the table and how did we get -- you know Spain was just that incredible growth country in the ninety's like a fourteen year old kid boom boom boom.

Incredible real estate boom it all went bust in 2008.

So it's no surprise it's -- banks are in trouble.

Thanks so much -- -- just a question on how much.

I can actually mean trouble for all of Europe because of that.

Spain has been trying hard to avoid a bailout could be inevitable the real question now it's all what form it will take weather will be a -- -- like those given -- Portugal.

Ireland -- directly to the government or something a little softer what they're calling sort of -- -- bailout essentially just helping the banks in any case they are talking.

About a minimum.

-- some forty billion euros that's well over fifty billion dollars.

Not chump change by any means although the Spanish government doesn't -- is that up around 70%.

Of the banking sector is okay now that leaves certainly a huge chunk until we've heard about them nationalized bank.

30% which is in trouble another thing that's not okay we've talked about in the past unemployment one out of four Spaniards nearly.

Out of work finally -- there are some positives points.

Why the economist -- say that essentially the economy is sound.

Exports are up productivity is up and by the way the Spanish soccer team is also really very good with the European championships starting this weekend.

That doesn't bring a lot of money into the country but it makes everyone feel a little better general.

Load More