A Spanish time bomb for Aussie banks

Even if Spain explodes, there's a good chance of holding off a full-scale European disaster for now. Either way, Australian banks have three years to set in place their own protection.

In simple terms, Spain has already been through a long period of austerity. If a full-scale European bailout is now required the cuts will become even deeper. Spain is a country that has deep divisions in good times. There is a good chance that it will explode and with that explosion will come a split of the euro, with devastating effects on the European banking system. European bank stocks were hammered last night.


{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles