Spanish bank crisis inevitable

Up to now the Spanish banking system was considered the most secure in Europe, but now in Spain too the state has had to intervene to rescue a savings bank. The Caja de Castilla la Mancha has been put under the temporary control of Spain's central bank. ABC comments: "The Bank of Spain's intervention in Caja de Castilla la Mancha was necessary and inevitable. The only question is why it waited so long. … But the case of this institution is only the tip of the iceberg in a problem with far-reaching implications: the inevitable crisis of the Spanish banking system and above all the savings banks."

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