Bank of Spain says big banks okay but smaller banks may need help

Spanish central banker Ordonez says that big Spanish banks are in good health but that the Bank may need to intervene in small and mid-sized banks.

The real-estate bust in Spain has been as devastating as that in the US. No wonder local banks are hurting.

Dealers note talk in the market of fresh 1.38/1.40 double-no-touch option plays in the market again…they must be cheap as chips, as my colleague in the UK would say…EUR/USD trades at 1.3970.