The Ticking Time Bomb That Are The Spanish Cajas

The Ticking Time Bomb That Are The Spanish Cajas -> zerohedge.com/article/tickin … nish-cajas

The article suggests that the Cajas are “onbording risk” by replacing non performing loans with performing loans in securtised bonds, thereby leaving the rubbish with the effectivly state backed CAJAs. Sounds like INBS.