The conditions of the Spain bailout include setting up a similar asset management company / bad bank. Lends credence to the theory that we were the laboratory for this approach with NAMA, and maybe the recent (vague) concessions Ireland got last week were a sweetener to show Spain et al that this approach leads to light at the end of the tunnel.
In case you are confused, the term “bail-in” in the article title refers to creditor participation (losses) as part of a restructuring of sovereign debt.
Surely it would be brazen for them to assert they know the real, certain, true value?
Perhaps they meant ‘real’ in the sense that it is Spanish for ‘Royal’. Maybe instead the phrase ‘Real Long Term’ is key, in the same way it has been a real long time since 1989, but Tokyo prices have yet to recover.