Spain Potpourri: Official Denials From Finance Minister; More Nationalizations Coming Up; Banks Use ECB Money to Refinance Large Enterprises in Dire Shape, New Credit To Households Down 80%

"...Ponzi Financing

Those charts show the Spain is banking system is in deep, deep trouble in spite of official denials from the finance minister. 

Ponzi financing of the largest enterprises is the name of the game and the bond market has zeroed in on it. Yield on the 10-year bond has soared to 6.35%. I expect back above 7% soon."

at http://globaleconomicanalysis.blogspot.com/2012/05/spain-potpourri-official-denials-from_15.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29