Thursday, 14 April 2011

Spanish Flag Flying as Chinese Banks Weigh Up Investment in Spanish Banks

According to Reports from Reuters, the Spanish Government are still confident of Chinese investment into their ailing banking sector.

Speculation has been rife that Chinese Banks have a staggering $13 Billion to invest into Spanish Banks. $9 Billion of this is said to be from Chinese Investment Corporation alone, this rumour has been denied by the Chinese to date.

Commenting a Spanish Government Official said "This was an error in communication. There is a will to invest in the savings banks and Spanish debt ... but clearly we can't give specific amounts or name particular funds,"

The Spanish Prime Minister, Jose Luis Rodriguez Zapatero  is visiting China and Singapore this week and securing funds for his ailing banks is said to be high on the agenda. For now though, whatever happens the Spanish Flag will continue (it seems) to fly high.

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